NH SB638

Establishes a Small Business Tariff Stabilization Fund administered by the Department of Business and Economic Affairs to provide grants to small businesses facing economic hardships from tariffs, supply chain disruptions, and decreased tourism

Appropriates $2,500,000 from the General Fund for fiscal year ending June 30, 2026 to capitalize the fund

Targets businesses defined as small by the U.S. Small Business Administration with primary operations in New Hampshire, prioritizing those committed to preventing layoffs due to tariff-related cost increases

Cites 30% decline in Canadian tourism and 42.6% drop in exports to Canada compared to the previous year as justification for the program

Takes effect January 1, 2027, though fiscal note identifies a timing conflict since the appropriation occurs in FY 2026 before the fund legally exists