Bill > SB56

This bill consolidates the New Hampshire Health and Education Facilities Authority (HEFA) within the New Hampshire Business Finance Authority (BFA), effectively dissolving HEFA and transferring all of its assets, liabilities, obligations, and employees to BFA as of July 1, 2025. The bill aims to streamline government services by merging two organizations that perform similar financing functions, with the support of both organizations' boards of directors. The transfer includes all real estate, property rights, funds, contracts, trust agreements, and other assets, ensuring that existing rights, remedies, and bond obligations remain intact. The bill also expands the BFA's board from 9 to 11 members, now specifically requiring the inclusion of a postsecondary education official and a healthcare official. Additionally, the legislation modifies definitions and procedures related to the BFA's bond issuance, broadening the definition of "project" to include a wider range of financial activities and providing more flexibility in how bonds can be executed. All existing rules, regulations, and ongoing proceedings of HEFA will continue under BFA, and employees will be transferred without interruption of service, salary, or benefits. The bill is designed to create efficiencies and increase public impact by consolidating these two government finance entities.

Government Affairs

https://gc.nh.gov/bill_status/legacy/bs2016/bill_status.aspx?lsr=975&sy=2025&sortoption=&txtsessionyear=2025&txtbillnumber=SB56