HB 440-FN - AS AMENDED BY THE SENATE
05/11/2023 1367s
2023 SESSION
23-0726
10/04
HOUSE BILL 440-FN
AN ACT relative to the uses of education trust fund.
SPONSORS: Rep. Cordelli, Carr. 7
COMMITTEE: Education
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ANALYSIS
This bill revises the list of uses for funds deposited in the education trust fund.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
05/11/2023 1367s 23-0726
10/04
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Three
AN ACT relative to the uses of education trust fund.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Education Trust Fund. The introductory paragraph of RSA 198:39, I is repealed and reenacted to read as follows:
I. The state treasurer shall establish an education trust fund in the treasury. Moneys in such fund shall not be used for any purpose other than to distribute adequate education grants to municipalities' school districts pursuant to RSA 198:42; to distribute grants to municipalities' school districts and to approved chartered public schools pursuant to RSA 194-B:11; to distribute public school infrastructure grants to municipalities, school districts, and approved chartered public schools pursuant to RSA 198:15-y; to distribute kindergarten grants to municipalities and school districts pursuant to RSA 198:48-C; to provide low and moderate income homeowners property tax relief under RSA 198:56-198:61; to distribute school building aid to school districts pursuant to RSA 198:15-b; to distribute tuition and transportation funds to school districts for students attending career and technical education programs pursuant to RSA 188-E:9; to distribute funds to scholarship organizations approved under RSA 77:G that administer and implement the education freedom accounts program pursuant to RSA 194-F; to distribute phase out grants to municipalities' school districts pursuant to RSA 194-F; to distribute grants for leased space to approved charter schools pursuant to RSA 198:15-hh; to distribute special education aid to school districts pursuant to RSA 186-C:18; and to fund department of education operating costs for a state student data collection and reporting system. The state treasurer shall deposit into this fund immediately upon receipt:
2 Effective Date. This act shall take effect upon its passage.
23-0726
Amended 5/15/23
HB 440-FN- FISCAL NOTE
AS AMENDED BY THE SENATE (AMENDMENT #2023-1367s)
AN ACT relative to the uses of education trust fund.
FISCAL IMPACT: [ ] State [ ] County [ ] Local [ X ] None
METHODOLOGY:
This bill updates RSA 198:39, I, relative to uses of the education trust fund, to align with current practice. This bill makes no changes to the existing uses of the education trust fund and will have no impact on state, county, or local revenue or expenditures.
AGENCIES CONTACTED:
None