Bill > SB86

This bill establishes an affordable housing guarantee program within the New Hampshire Housing Finance Authority (NHHFA) designed to promote housing development for low- and moderate-income residents. The key provisions include creating a loan guarantee mechanism where the state will compensate commercial lenders up to 80% of the outstanding value of a loan if a borrower defaults on a multifamily housing development loan. The program will be administered by the NHHFA, which plans to charge a modest monthly fee to participating lenders to help offset administrative costs. The state's maximum liability for loan guarantees is capped at $100,000,000 per fiscal year, with initial administrative costs expected to be covered by General Funds. The bill includes a prospective repeal of the existing affordable housing guaranteed loan program sections (RSA 204-C:93 through 204-C:98) set to take effect on July 1, 2030, while the remainder of the act will become effective 60 days after its passage. Importantly, the fiscal note indicates that while there are no immediate funding allocations or new positions created, the program could have indeterminable future costs depending on potential loan defaults.

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https://gc.nh.gov/bill_status/legacy/bs2016/bill_docket.aspx?lsr=1030&sy=2025&sortoption=&txtsessionyear=2025&txtbillnumber=SB86