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RSA 198:39 · Education Trust Fund Created and Invested

Title
XV: EDUCATION
Chapter
198 · SCHOOL MONEY
Status
current
Official source linked
Yes
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198:39 Education Trust Fund Created and Invested. –

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I.

The state treasurer shall establish an education trust fund in the treasury. Moneys in such fund shall not be used for any purpose other than:

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(a)

To distribute adequate education grants to municipalities' school districts pursuant to RSA 198:42.

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(b)

To distribute grants to municipalities school districts and to approved chartered public schools pursuant to RSA 194-B:11.

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(c)

To distribute kindergarten grants to municipalities' and school districts pursuant to RSA 198:48-c.

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(d)

To provide low and moderate income homeowners property tax relief under RSA 198:56-198:61.

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(e)

To distribute funds to scholarship organizations approved under RSA 77-G, that administer and implement RSA 194-F.

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(f)

To distribute phase-out grants to school districts under RSA 194-F:10.

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(g)

To fund costs necessary to provide the statewide assessment program required under RSA 193-C.

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(h)

To fund department of education operating costs for a state student data collection and reporting system, within budgeted appropriations.

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(i)

To fund department of education costs for administering programs funded by the education trust fund, within budgeted appropriations, plus any additional funding authorized pursuant to paragraph III.

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(j)

To distribute school building aid to school districts pursuant to RSA 198:15-b.

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(k)

To distribute tuition and transportation funds to school districts for students attending career and technical education programs pursuant to RSA 188-E:9.

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(l)

To distribute special education aid to school districts pursuant to RSA 186-C:18.

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(m)

To distribute payments to education service providers on behalf of school districts for children with disabilities in certain court ordered placements pursuant to RSA 186-C:19-b.

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(n)

To distribute payments to providers for costs of special education and education services related to an episode of treatment pursuant to RSA 193:27, VII.

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(o)

To distribute grants for leased space to approved chartered public schools pursuant to RSA 198:15-hh.

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(p)

To fund grants from the public school infrastructure fund under RSA 198:15-y.

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(q)

To fund department of education operating costs, as authorized under RSA 198:39, III.

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II.

The state treasurer shall deposit into the education trust fund immediately upon receipt:

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(a)

Funds certified to the state treasurer by the commissioner of revenue administration pursuant to RSA 77-A:20-a, relative to business profits taxes.

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(b)

Funds certified to the state treasurer by the commissioner of revenue administration pursuant to RSA 77-E:14, relative to business enterprise tax.

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(c)

Funds collected and paid over to the state treasurer by the commissioner of revenue administration pursuant to RSA 78-A:26, II, relative to the tax on motor vehicle rentals.

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(d)

Funds collected and paid over to the state treasurer by the department of revenue administration pursuant to RSA 78:24, relative to tobacco taxes.

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(e)

Funds certified to the state treasurer by the commissioner of revenue administration pursuant to RSA 78-B:13, relative to real estate transfer taxes.

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(f)

Funds collected and paid over to the state treasurer by the department of revenue administration pursuant to RSA 83-F:7, I, relative to the utility property tax.

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(g)

All moneys due the fund in accordance with RSA 284:21-j, relative to sweepstakes and the lottery.

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(h)

Tobacco settlement funds in the amount of $40,000,000 or, for any year in which the total tobacco settlement funds received by the state is less than $40,000,000, the total amount of tobacco settlement funds received by the state.

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(i)

The school portion of any revenue sharing funds distributed pursuant to RSA 31-A:4 which were apportioned to school districts in the property tax rate calculations in 1998.

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(j)

Funds collected and paid over to the state treasurer by the lottery commission pursuant to RSA 284:44, RSA 284:47, and RSA 287-I.

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(k)

Any other moneys appropriated from the general fund.

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III.

If required expenditures to administer programs funded by the education trust fund, pursuant to paragraph I, exceed amounts appropriated, the commissioner of education may request the fiscal committee of the general court authorize additional funding. Amounts requested under this paragraph shall be a charge to the education trust fund. For funds requested and approved, the governor is authorized to draw a warrant from any money in the treasury not otherwise appropriated.

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IV.

The education trust fund shall be nonlapsing, except for at the close of each biennium, any surplus in excess of $20,000,000, as determined by the official audit performed pursuant to RSA 21-I:8, II(a), shall be transferred by the comptroller to the general fund. The state treasurer shall invest that part of the fund which is not needed for immediate distribution in short-term interest-bearing investments. The income from these investments shall be returned to the fund. Source. 1999, 17:41; 338:8. 2004, 97:3; 200:4. 2005, 257:4, 15. 2006, 301:2. 2007, 272:2, eff. July 3, 2007. 2011, 258:9, IV, eff. July 1, 2011. 2017, 229:3, eff. July 1, 2017. 2019, 178:9, eff. Jan. 1, 2020; 215:3, eff. July 12, 2019. 2021, 91:60, 114, eff. July 1, 2021. 2023, 79:138, eff. July 1, 2023. 2025, 141:79, 80, eff. July 1, 2025.

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Source note

Source. 1999, 17:41; 338:8. 2004, 97:3; 200:4. 2005, 257:4, 15. 2006, 301:2. 2007, 272:2, eff. July 3, 2007. 2011, 258:9, IV, eff. July 1, 2011. 2017, 229:3, eff. July 1, 2017. 2019, 178:9, eff. Jan. 1, 2020; 215:3, eff. July 12, 2019. 2021, 91:60, 114, eff. July 1, 2021. 2023, 79:138, eff. July 1, 2023. 2025, 141:79, 80, eff. July 1, 2025.

Source history

  • 1999, 17:41; 338:8
  • 2004, 97:3; 200:4
  • 2005, 257:4, 15
  • 2006, 301:2
  • 2007, 272:2, eff. July 3, 2007
  • 2011, 258:9, IV, eff. July 1, 2011
  • 2017, 229:3, eff. July 1, 2017
  • 2019, 178:9, eff. Jan. 1, 2020; 215:3, eff. July 12, 2019
  • 2021, 91:60, 114, eff. July 1, 2021
  • 2023, 79:138, eff. July 1, 2023
  • 2025, 141:79, 80, eff. July 1, 2025

Related materials

Bill relationships

  • 2026 HB1090 amend · effective 2027-07-01

    ar thereafter, the department shall pay over all revenue collected pursuant to RSA 78-A:6, [II-a] III to the state treasurer for deposit in the education trust fund established by RSA 198:39. 4 Effective Date. This act shall take effect July 1, 2027. LBA 26-2527 02/26/2026 HB 1090-FN- FISCAL NOTE AS AMENDED BY THE HOUSE (AMENDMENT # 2026-0434h) AN ACT relative to meals and rooms taxes.

  • 2026 HB1090-FN amend · effective 2027-07-01

    ar thereafter, the department shall pay over all revenue collected pursuant to RSA 78-A:6, [II-a] III to the state treasurer for deposit in the education trust fund established by RSA 198:39. 4 Effective Date. This act shall take effect July 1, 2027. LBA 26-2527 02/26/2026 HB 1090-FN- FISCAL NOTE AS AMENDED BY THE HOUSE (AMENDMENT # 2026-0434h) AN ACT relative to meals and rooms taxes.

  • 2026 HB1122 amend

    subparagraph: (14) Hunting, wildlife management, and responsible firearms usage. 8 New Paragraph; Education; School Money; Education Trust Fund Created and Invested. Amend RSA 198:39 by inserting after paragraph IV the following new paragraph: V. Notwithstanding any other provision of law to the contrary, one percent of the proceeds deposited into the education trust fund shall be appropriated t

  • 2026 HB1409 add

    th charities, gaming operator costs, and problem gaming prevention costs, shall be paid to the commission and distributed 100 percent to the education trust fund established under RSA 198:39. 2 Effective Date. This act shall take effect upon its passage. LBA 26-3080 11/25/25 HB 1409-FN- FISCAL NOTE AS INTRODUCED AN ACT modifying the deposit of revenues collected from video lottery termina

  • 2026 HB1409-FN add

    th charities, gaming operator costs, and problem gaming prevention costs, shall be paid to the commission and distributed 100 percent to the education trust fund established under RSA 198:39. 2 Effective Date. This act shall take effect upon its passage. LBA 26-3080 11/25/25 HB 1409-FN- FISCAL NOTE AS INTRODUCED AN ACT modifying the deposit of revenues collected from video lottery termina

  • 2026 HB1474 repeal · effective 2026-07-01

    stablished in RSA [78-A:26, IV] 78-A:27. 3 Repeal. The following are repealed: I. RSA 78-A:26, III and IV, relative to the disposition of meals and rooms tax revenue. II. RSA 198:39, II(i), relative to the school portion of any revenue sharing funds apportioned to school districts in the property tax rate calculations. 4 Effective Date. This act shall take effect July 1, 2026. LBA 26-29

  • 2026 HB1474-FN repeal · effective 2026-07-01

    stablished in RSA [78-A:26, IV] 78-A:27. 3 Repeal. The following are repealed: I. RSA 78-A:26, III and IV, relative to the disposition of meals and rooms tax revenue. II. RSA 198:39, II(i), relative to the school portion of any revenue sharing funds apportioned to school districts in the property tax rate calculations. 4 Effective Date. This act shall take effect July 1, 2026. LBA 26-29

  • 2026 HB1546 amend · effective 2027-01-01

    der [RSA 77-A,] RSA 77-E, RSA 78, RSA 78-A, RSA 78-B, RSA 83-F, RSA 284:44 and RSA 284:47, and from the sweepstakes fund, which shall be credited to the education trust fund under RSA 198:39. 2 The State and Its Government; State Treasurer; Exemptions From Certain Reporting Requirements. Amend RSA 6:12-k, I(d) to read as follows: (d) RSA 6:12, I, (b)(65), relative to money received under [RSA 77-A,] RS

  • 2026 HB1546-FN amend · effective 2027-01-01

    der [RSA 77-A,] RSA 77-E, RSA 78, RSA 78-A, RSA 78-B, RSA 83-F, RSA 284:44 and RSA 284:47, and from the sweepstakes fund, which shall be credited to the education trust fund under RSA 198:39. 2 The State and Its Government; State Treasurer; Exemptions From Certain Reporting Requirements. Amend RSA 6:12-k, I(d) to read as follows: (d) RSA 6:12, I, (b)(65), relative to money received under [RSA 77-A,] RS

  • 2026 HB1584 add · effective 2027-01-01

    n all tobacco products sold at retail in this state imposed by RSA 78:2 shall be divided with 39 percent of that total revenue deposited in the education trust fund established by RSA 198:39 and the remaining revenue deposited in the general fund, except that for any surplus funds over that year's planned revenue, 50 percent of the surplus shall be transferred to the department of health and human services

  • 2026 HB1584-FN add · effective 2027-01-01

    n all tobacco products sold at retail in this state imposed by RSA 78:2 shall be divided with 39 percent of that total revenue deposited in the education trust fund established by RSA 198:39 and the remaining revenue deposited in the general fund, except that for any surplus funds over that year's planned revenue, 50 percent of the surplus shall be transferred to the department of health and human services

  • 2026 HB1629 amend · effective 2027-07-01

    der RSA 77-A, [RSA 77-E,] RSA 78, RSA 78-A, RSA 78-B, RSA 83-F, RSA 284:44 and RSA 284:47, and from the sweepstakes fund, which shall be credited to the education trust fund under RSA 198:39. 2 The State and Its Government; State Treasurer; Exemptions From Certain Reporting Requirements. Amend RSA 6:12-k, I(d) to read as follows: (d) RSA 6:12, I, (b)(65), relative to money received under RSA 77-A, [R

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