Bill Text: NH HB1187 | 2024 | Regular Session | Amended
Bill Title: Relative to prohibiting lease agreements of equipment for building or facility improvements.
Spectrum: Partisan Bill (Republican 7-0)
Status: (Engrossed) 2024-05-31 - House Concurs with Senate Amendment 2024-2155s (Rep. L. Turcotte): Motion Adopted Voice Vote 05/30/2024 House Journal 15 [HB1187 Detail]
Download: New_Hampshire-2024-HB1187-Amended.html
HB 1187 - AS AMENDED BY THE SENATE
28Mar2024... 1229h
05/23/2024 2155s
2024 SESSION
24-2076
02/10
HOUSE BILL 1187
AN ACT relative to prohibiting lease agreements of equipment for building or facility improvements.
SPONSORS: Rep. Pauer, Hills. 36; Rep. Piemonte, Rock. 9; Rep. Notter, Hills. 12; Rep. R. Brown, Carr. 3; Rep. Lewicke, Hills. 36; Rep. Erf, Hills. 28; Sen. Avard, Dist 12
COMMITTEE: Municipal and County Government
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AMENDED ANALYSIS
This bill specifies that building or facility improvements that become fixtures related to the installation, purpose, or operation of leased equipment shall not be financed through lease agreements.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
28Mar2024... 1229h
05/23/2024 2155s 24-2076
02/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Four
AN ACT relative to prohibiting lease agreements of equipment for building or facility improvements.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Lease Agreements of Equipment. Amend RSA 33:7-e to read as follows:
33:7-e Lease Agreements of Equipment. The governing body may enter into leases of equipment as required by the municipality. Appropriations to fund lease agreements with nonappropriation clauses may be approved by a simple majority vote of the legislative body. Lease agreements with nonappropriation clauses shall not be treated as debt under RSA 33:4-a. For the purposes of this section, "lease" shall include lease-purchase, sale and lease back, installment sale, or other similar agreement to acquire use or ownership of such equipment as is from time to time required by the municipality. [For purposes of this section and RSA 382-A,] Building or facility improvements that become fixtures related to the installation, purpose, or operation of such equipment, except for energy performance contracts as authorized by RSA 21-I:19-d, shall not [be deemed to constitute equipment and the costs of such improvements may] be financed through lease agreements under this section.
2 Lease Agreements of Equipment; Effective 2027. RSA 33:7-e is repealed and reenacted to read as follows:
33:7-e Lease Agreements of Equipment. The governing body may enter into leases of equipment as required by the municipality. Appropriations to fund lease agreements with nonappropriation clauses may be approved by a simple majority vote of the legislative body. Lease agreements with nonappropriation clauses shall not be treated as debt under RSA 33:4-a. For the purposes of this section, "lease" shall include lease-purchase, sale and lease back, installment sale, or other similar agreement to acquire use or ownership of such equipment as is from time to time required by the municipality. Building or facility improvements that become fixtures related to the installation, purpose, or operation of such equipment shall not be financed through lease agreements under this section.
I. Section 1 of this act shall take effect 60 days after its passage.
II. Section 2 of this act shall take effect July 1, 2027.
