SB 279-FN - AS INTRODUCED
2025 SESSION
25-1072
07/09
SENATE BILL279-FN
AN ACTestablishing the housing champion business loan program and making appropriations to the department of business and economic affairs and the business finance authority.
SPONSORS:Sen. Perkins Kwoka, Dist 21; Sen. Lang, Dist 2; Sen. Prentiss, Dist 5; Sen. Long, Dist 20; Sen. Fenton, Dist 10; Sen. Rosenwald, Dist 13; Sen. Watters, Dist 4; Sen. Reardon, Dist 15; Sen. Altschiller, Dist 24; Sen. Innis, Dist 7; Rep. Alexander Jr., Hills. 29; Rep. D. Paige, Carr. 1; Rep. Simpson, Rock. 33; Rep. Stavis, Graf. 13
COMMITTEE:Commerce
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ANALYSIS
This bill:
I. Allows housing champion communities to participate in a business loan program administered by the business finance authority and makes an appropriation to fund such loans.
II. Makes an appropriation to the department of business and economic affairs for deposit in the housing champion designation and grant program fund.
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Explanation:Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
25-1072
07/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Five
AN ACTestablishing the housing champion business loan program and making appropriations to the department of business and economic affairs and the business finance authority.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Paragraph; Department of Business and Economic Affairs; New Hampshire Housing Champion Designation and Grant Program. Amend RSA 12-O:71 by inserting after paragraph VI the following new paragraph:
VI-a. Municipalities that receive the New Hampshire housing champion designation shall be eligible for the program administered by the business finance authority under RSA 162-A:9-b.
2 New Section; Housing Champion Business Loan Program. Amend RSA 162-A by inserting after section 9-a the following new section:
162-A:9-b Housing Champion Business Loan Program.
I. The authority shall establish a revolving low-interest rate business loan program to encourage growth and job creation in communities that receive the New Hampshire housing champion designation. Funds available under this program are provided by funds appropriated to the authority for this purpose.
II. The authority may only provide a loan to a given business under this program after review and approval of the proposed loan by the board of directors of the authority.
3 Appropriation; Department of Business and Economic Affairs; New Hampshire Housing Champion and Grant Program. The sum of $5,000,000 is hereby appropriated for the biennium ending June 30, 2027, to the department of business and economic affairs for deposit in the New Hampshire housing champion designation and grant program fund established under RSA 12-O:74. The appropriation shall be nonlapsing. The governor is authorized to draw a warrant for said sum out of any money in the treasury not otherwise appropriated.
4 Appropriation; New Hampshire Business Finance Authority; Housing Champions Business Loan Program. The sum of $1,000,000 is hereby appropriated for the biennium ending June 30, 2027 to the New Hampshire business finance authority for the purpose of funding the housing champions business loan program established under RSA 162-A:9-b. The appropriation shall be nonlapsing. The governor is authorized to draw a warrant for said sum out of any money in the treasury not otherwise appropriated.
5 Obsolete Cross Reference Removed; Public Defense and Veterans' Affairs; Department of Military Affairs and Veterans Services; End Veterans Homelessness Program. Amend RSA 110-B:73-c, II (e) to read as follows:
(e) Connecting veterans experiencing homelessness to health, mental health, employment, entrepreneurship, and training resources through the services described under [RSA 162-A:9-b,] RSA 282-A:117-b, RSA 282-A:117-c, RSA 110-B:73-a, RSA 110-B:73-b, RSA 153-A:20, XXV, RSA 187-A:20-d, RSA 188-F:16-b, RSA 326-B:9, XIII, and RSA 328-D:10, I(j).
6 Effective Date. This act shall take effect July 1, 2025.
LBA
25-1072
1/17/25
SB 279-FN- FISCAL NOTE
AS INTRODUCED
AN ACTenabling housing champion communities to participate in programs administered by the business finance authority and making an appropriation to the New Hampshire housing champion program.
FISCAL IMPACT: This bill provides appropriations in Section 4 and 5.
Estimated State Impact
FY 2025 FY 2026 FY 2027 FY 2028
Revenue $0 Indeterminable Indeterminable $0
Revenue Fund(s) General Fund
Expenditures* $0 Maximum of $6,000,000
Funding Source(s) NH Housing Champion Designation and Grant Program and NH Business Finance Authority
Appropriations* $0 Maximum of $6,000,000
Funding Source(s) NH Housing Champion Designation and Grant Program and NH Business Finance Authority
*Expenditure = Cost of bill *Appropriation = Authorized funding to cover cost of bill
Estimated Political Subdivision Impact
FY 2025 FY 2026 FY 2027 FY 2028
County Revenue $0 $0 $0 $0
County Expenditures $0 $0 $0 $0
Local Revenue $0 Indeterminable Indeterminable Indeterminable
Local Expenditures $0 Indeterminable Indeterminable Indeterminable
Estimated State Impact
FY 2025
FY 2026
FY 2027
FY 2028
Revenue
$0
Indeterminable
Indeterminable
$0
Revenue Fund(s)
General Fund
Expenditures*
$0
Maximum of $6,000,000
Funding Source(s)
NH Housing Champion Designation and Grant Program and NH Business Finance Authority
Appropriations*
$0
Maximum of $6,000,000
Funding Source(s)
NH Housing Champion Designation and Grant Program and NH Business Finance Authority
*Expenditure = Cost of bill *Appropriation = Authorized funding to cover cost of bill
Estimated Political Subdivision Impact
FY 2025
FY 2026
FY 2027
FY 2028
County Revenue
$0
$0
$0
$0
County Expenditures
$0
$0
$0
$0
Local Revenue
$0
Indeterminable
Indeterminable
Indeterminable
Local Expenditures
$0
Indeterminable
Indeterminable
Indeterminable
METHODOLOGY:
This bill authorizes municipalities with the housing champion designation to participate in programs managed by the New Hampshire Business Finance Authority (BFA). It appropriates $1,000,000 to the BFA for the Housing Champions Business Loan Program and $5,000,000 to the Department of Business and Economic Affairs for the New Hampshire Housing Champion Designation and Grant Program Fund for the biennium ending June 30, 2027, with these funds being nonlapsing. Though nonlapsing, the maximum appropriation contained in this bill is $6,000,000. The BFA has indicated that no additional operational support will be required to administer the program.
The New Hampshire Municipal Association (NHMA) states that grants awarded to municipalities would generate new revenue for housing development. However, the additional of housing would have an unpredictable impact on overall revenue and expenditures.
The bill contains language that appropriates sufficient General Funds to cover the cost of this bill.
AGENCIES CONTACTED:
Department of Business and Economic Affairs, New Hampshire Business Finance Authority, and New Hampshire Municipal Association