NH HB1230

Caps total annual spending increases for New Hampshire state government and local taxing districts at a 4-year moving average of inflation (maximum 2.5%) plus the percentage change in population from the prior year

Requires excess revenues above the annual limit (up to 10%) to be deposited into an interest-bearing rainy day fund, with amounts exceeding that cap either refunded to taxpayers or, with voter approval, used to repay debts

Prohibits the state or political subdivisions from increasing taxes, spending, or debt beyond the inflation-plus-population formula without voter approval

Creates a private right of action allowing any citizen to sue if the state or local government violates these spending limits, with guaranteed jury trial within 12 months

Awards successful plaintiffs reasonable attorney's fees, court costs, and damages up to 20 times their legal expenses

Takes effect April 1, 2027