Bill > HB1399

This bill appropriates $5,000,000 from the Revenue Stabilization Reserve Account (also known as the "Rainy Day Fund") to the Claremont School District to partially reimburse the district for renovations made to Stevens High School in 2015. The bill provides context for the appropriation, noting that the renovations occurred during a building aid moratorium, were essential for restoring the school's accreditation, and that the district would have been eligible for building aid if not for the moratorium. The district is described as being in urgent need of funds due to previous fiscal mismanagement. The bill authorizes the governor to draw a warrant for the funds from the state treasury, and the appropriation will take effect 60 days after its passage. The fiscal note indicates that this funding will be a one-time expenditure in fiscal year 2027, and the Rainy Day Fund is expected to have a balance of approximately $228.4 million at that time. The bill also notes an unusual aspect of the appropriation, which is that funds are being directed straight to a non-state entity, rather than through a state agency like the Department of Education.

Budget and Finance

https://gc.nh.gov/bill_Status/billinfo.aspx?id=2439&inflect=2