NH HB1435

Reduces the capitalization rate for the Winnipesaukee River Basin Control Replacement Fund from 5% to 2% of the value of equipment and depreciable assets at treatment facilities

Changes how member surcharges are adjusted from being "prorated" based on "design" changes to being "adjusted" based on "valuation" changes

Allows members to replenish fund expenditures over a shorter period than 10 years at their discretion

Removes the requirement that excess prior payments be credited to existing members' accounts when a new member joins the system

Adds provisions for adjusting the fund when members exit the system or consolidate, addressing modified projected use, fund balances, and expenditure reimbursement obligations

Eliminates the requirement for governor and council approval of contracts paid from the fund

Estimated to reduce state revenues and local expenditures by $994,340 annually starting in FY 2026