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NH HB292
Bill
Status
Engrossed
3/28/2025
Primary Sponsor
Roderick Ladd
Click for details
AI Summary
- Establishes a school district adequacy revolving loan fund administered by the state treasury to help districts manage cash flow while awaiting state adequacy payments
- Total outstanding loans cannot exceed 75% of a district's annual adequacy funding, with interest rates set by the state treasurer based on current state borrowing costs (no lower than the federal funds rate)
- Requires school board approval and disclosure of any reimbursement anticipation notes from the prior 2 fiscal years before a district can access the fund
- Limits participation to 3 consecutive academic years per district, with no new applications accepted after June 30, 2030, and the program repeals entirely on July 1, 2030
- Districts receiving loans must submit monthly financial reports, undergo a legislative budget assistant audit, and place certain governance provisions (RSA 32:5-b and RSA 194-C:9-a) on their next annual meeting ballot
Legislative Description
Establishing a revolving loan fund for school districts.
Last Action
Ought to Pass with Amendment #2025-3101s, Regular Calendar 16Y-8N, Motion Adopted; OT3rdg; 01/07/2026; Senate Journal 1
1/7/2026
Committee Referrals
Education3/28/2025
Education Policy and Administration1/7/2025
Full Bill Text
No bill text available