HB1545: relative to the disposal of state surplus property for affordable housing.

HB 1545 - AS INTRODUCED

2024 SESSION

24-2511

05/10

HOUSE BILL 1545

AN ACT relative to the disposal of state surplus property for affordable housing.

SPONSORS: Rep. Cloutier, Sull. 6; Rep. Maggiore, Rock. 23

COMMITTEE: Executive Departments and Administration

ANALYSIS

This bill permits the disposal of state surplus property at less than fair market value if the property is transfered to a nonprofit for the purpose of constructing affordable housing.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

24-2511

05/10

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Twenty Four

AN ACT relative to the disposal of state surplus property for affordable housing.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 New Paragraph; Disposal of Real Estate; Sale or Lease of Property for Affordable Housing. Amend RSA 4:40 by inserting after paragraph III-a the following new paragraph:

III-b. Notwithstanding paragraph III, the subject property may be sold or leased at less than fair market value, as determined by the governor and council, if the property is sold to a nonprofit entity for the construction and development of affordable housing, as defined in RSA 204-C:56, I. The department shall convey such property with the necessary covenants and restrictions to ensure that the property is used for such purpose.

2 Effective Date. This act shall take effect 60 days after its passage.