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Bill > HB694
NH HB694
NH HB694Requiring leases of land, buildings, or space by state agencies to be at fair market value.
summary
Introduced
01/21/2025
01/21/2025
In Committee
04/30/2025
04/30/2025
Crossed Over
03/27/2025
03/27/2025
Passed
07/08/2025
07/08/2025
Dead
Signed/Enacted/Adopted
07/08/2025
07/08/2025
Introduced Session
2025 Regular Session
Bill Summary
This bill requires that property leased by state agencies be leased at a rate which would be considered a fair market rate, unless a sub-market rate is agreed to by the property owner.
AI Summary
This bill requires that when state agencies renew leases for land, buildings, or space with political subdivisions, they must do so at a fair market rate, unless the property owner agrees to a different arrangement. The legislation specifies that any additional expenses like utilities and custodial services must be negotiated separately. Importantly, the bill does not apply to state agencies that originally obtained their lease through a competitive selection or bidding process. The new provision will be added to the New Hampshire Revised Statutes Annotated (RSA) as section 4:39-g and will take effect 60 days after its passage. According to the fiscal note, the bill is expected to have a minimal fiscal impact of less than $10,000 annually from 2025 through 2028, and the Department of Administrative Services has been consulted about its potential implications.
Committee Categories
Business and Industry, Government Affairs
Sponsors (6)
Judy Aron (R)*,
John Cloutier (D),
Margaret Drye (R),
Dale Girard (D),
Steven Smith (R),
Brian Sullivan (D),
Last Action
Signed by Governor Ayotte 07/07/2025; Chapter 152; eff.09/05/2025 (on 07/08/2025)
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