Bill > HB1066

This bill modifies New Hampshire's municipal finance laws by expanding and clarifying the definition of "lease" to include lease-purchase agreements, sale and lease back agreements, and installment sales for real property, fixtures, and equipment. The bill introduces new procedures for municipal lease agreements, particularly for those exceeding $100,000, which will now require a public hearing and a supermajority vote (3/5 majority) to approve. Leases over $100,000 must be voted on in a separate ballot box, with specific notice requirements including publication in a local newspaper at least 7 days before the hearing. The bill distinguishes between equipment leases (under RSA 33:7-e) and general lease agreements (under the new RSA 33:7-f), treating the latter as debt and subject to more stringent approval processes. Notably, the bill does not apply to cities, and it provides specific reconsideration procedures for lease votes. These changes aim to increase transparency and provide more rigorous oversight of municipal lease agreements, ensuring that taxpayers have a more direct say in significant financial commitments. The bill will take effect 60 days after its passage.

Government Affairs

https://gc.nh.gov/bill_Status/billinfo.aspx?id=1514&inflect=2