NH HB1427

Prohibits municipalities, counties, and school districts from issuing bonds after January 1, 2027, except for declared emergencies, essential infrastructure failures, emergency building system replacements, securing federal/state matching funds of equal value, or projects approved by two-thirds of voters with at least 50% voter participation

Provides a 4-year transition period (2027-2031) during which entities may issue bonds with maximum 10-year maturity, capped at 100% of annual budget or 50% of biennial budget

Allows taxpayers to challenge bonds issued in violation of the law in superior court, with violating bonds being voidable and courts authorized to award costs and attorney's fees to prevailing plaintiffs

Imposes personal liability on local governing body members who vote for emergency declarations made in bad faith or with fraudulent intent to circumvent the bonding restrictions

Directs the state treasurer to refuse registration of any bond that does not comply with the new limitations on its face