Bill Text: NH SB232 | 2022 | Regular Session | Introduced
Bill Title: Relative to the permissible uses of a school district contingency fund.
Spectrum: Moderate Partisan Bill (Republican 9-1)
Status: (Introduced - Dead) 2022-02-03 - Inexpedient to Legislate, Motion Adopted, Voice Vote === BILL KILLED ===; 02/03/2022; Senate Journal 2 [SB232 Detail]
Download: New_Hampshire-2022-SB232-Introduced.html
SB 232 - AS INTRODUCED
2022 SESSION
22-2871
10/04
SENATE BILL 232
AN ACT relative to the permissible uses of a school district contingency fund.
SPONSORS: Sen. Reagan, Dist 17; Sen. Bradley, Dist 3; Sen. D'Allesandro, Dist 20; Sen. Hennessey, Dist 1; Sen. Giuda, Dist 2; Sen. Avard, Dist 12; Sen. Carson, Dist 14; Sen. Gannon, Dist 23; Rep. Spillane, Rock. 2; Rep. McGuire, Merr. 29
COMMITTEE: Education
-----------------------------------------------------------------
ANALYSIS
This bill clarifies the uses of funds retained in the school district contingency fund.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
22-2871
10/04
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Two
AN ACT relative to the permissible uses of a school district contingency fund.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 School Money; School District Contingency Fund. Amend RSA 198:4-d, II to read as follows:
II. Notwithstanding any other provision of law, a school district by a vote of the legislative body may authorize, indefinitely until specific rescission, the school district to retain any unused portion of the year-end unassigned general funds, from the preceding fiscal year in subsequent fiscal years, provided that the total amount of year-end unassigned general funds does not exceed, in any fiscal year, 5 percent of the current fiscal year's net assessment under RSA 198:5, for the purpose of having funds on hand to use as a revenue source for emergency expenditures and overexpenditures under RSA 32:11, or to be used as a revenue source to reduce the school tax rate.
(a) Prior to expending retained general funds, the school board shall hold a prior public hearing on the action to be taken with such funds. Notice of the time, place, and subject of such hearing shall be published in a newspaper of general circulation in the relevant municipality at least 7 days before the meeting is held.
(b) An annual accounting and report of the activities of the retained general funds shall be presented to the school board of the district and published in the annual report.
2 Effective Date. This act shall take effect 60 days after its passage.
