Bill > SB605

This bill modifies the state's laws regarding special assessments from pooled risk management programs by introducing two key provisions. First, the bill clarifies that special assessments are not required by statute, providing more flexibility in how these financial obligations are handled. Second, and most significantly, the bill allows political subdivisions (such as local governments or municipalities) to spread out special assessment payments from a pooled risk management program over a 36-month period, with equal amounts assessed in each period from the date of the invoice. A pooled risk management program is typically an organization that allows multiple governmental entities to collectively manage and share financial risks, such as insurance or liability coverage. The bill's implementation will begin 60 days after its passage, and while it does not provide new funding or create new positions, it could potentially impact the financial dynamics between political subdivisions and risk management programs. The Department of State has expressed concerns that this extended payment timeline might jeopardize the financial stability of risk pools, potentially leading to complications like increased legal and administrative costs.

Budget and Finance

https://gc.nh.gov/bill_Status/billinfo.aspx?id=1466&inflect=2