Bill > HB1118

This bill increases the monetary threshold that triggers more frequent financial reporting and remittance requirements for municipal officials in New Hampshire. Specifically, the bill raises the limit from $500 or $1,500 (depending on the specific section) to $3,500 across multiple sections of state law. This means that selectmen, town treasurers, tax collectors, and town clerks will now be required to remit funds to the town treasurer or deposit collected funds daily only when the total funds from all departments collectively reach $3,500 or more, instead of the previous lower thresholds. The bill aims to provide some flexibility for smaller municipalities by reducing the frequency of mandatory daily financial transfers. The changes apply to various types of municipal funds, including tax collections, permit fees, and other departmental revenues. The bill includes a provision that failure to comply with these remittance requirements can still result in immediate removal from office. The new regulations will take effect 60 days after the bill's passage, giving municipal officials time to adjust to the new financial reporting standards.

Government Affairs

https://gc.nh.gov/bill_Status/billinfo.aspx?id=1623&inflect=2