Bill > SB407

This bill establishes a new state funding mechanism for the University System of New Hampshire, providing $300 per full-time student who is eligible for in-state tuition rates, beginning in fiscal year 2027. The appropriation will be calculated annually on October 1st by counting eligible full-time students, with a total annual cap of $5,400,000. The funds are designated to help reduce in-state tuition costs and will be non-lapsing, meaning any unspent money will not revert to the general fund at the end of the fiscal year. The bill anticipates a modest student enrollment growth of 0.8% annually, with projected appropriations of approximately $2,988,300 in fiscal year 2027, increasing to $3,036,300 by fiscal year 2029. The funding will come from the state's general fund, and the governor is authorized to draw warrants for these appropriations. The bill is set to take effect on July 1, 2026, and is designed to provide direct financial support to help make higher education more affordable for in-state students at New Hampshire's public universities.

Budget and Finance

https://gc.nh.gov/bill_Status/billinfo.aspx?id=1458&inflect=2