Bill > H3906

This bill modernizes municipal finance and government by updating various laws related to how cities and towns manage their finances and operations. Key provisions include establishing a municipal finance oversight board to replace a previous board composed of the attorney general, state treasurer, and director of accounts, and allowing cities and towns to deposit rental income from public properties into separate accounts for facility upkeep without requiring further appropriation. The bill also expands the ability for municipalities to create and manage stabilization funds for various lawful purposes, permits the combination of town treasurer and tax collector positions into an appointed role, and allows for electronic payment of salaries and wages. It also revises rules around borrowing for public works projects, including extending repayment periods for certain infrastructure and energy projects, and clarifies procedures for issuing refunding bonds and entering into lease-purchase agreements. Furthermore, the bill updates auditing requirements for municipalities and districts, standardizes accounting practices, and modifies regulations concerning alcoholic beverage licenses, including processes for granting new licenses and handling license transfers.