Bill > SB279

This bill establishes a Housing Champion Business Loan Program designed to encourage economic growth and job creation in municipalities that have received the New Hampshire housing champion designation. The bill appropriates $5 million to the Department of Business and Economic Affairs for deposit in the Housing Champion Designation and Grant Program Fund and $1 million to the New Hampshire Business Finance Authority to fund the new loan program. Under the program, the Business Finance Authority will create a revolving low-interest loan program specifically for businesses in housing champion communities, with loans subject to review and approval by the authority's board of directors. Municipalities that receive the housing champion designation will be eligible to participate in this program, which aims to support economic development in communities that are actively addressing housing challenges. The bill specifies that these appropriations are nonlapsing and will be in effect for the biennium ending June 30, 2027, with the program set to begin on July 1, 2025. The goal is to provide financial support and incentives for communities working to develop and improve their housing infrastructure while simultaneously promoting business growth.