Bill Text: NH HB1652 | 2012 | Regular Session | Amended
Bill Title: Requiring the transfer of insurance premium tax revenue to the department of health and human services and the revenue stabilization reserve account.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2012-05-09 - House House Non-Concurs with Senate Amendment #1885s(NT) (Rep Stepanek): Motion Adopted Division Vote 247-93; House Journal 40, PG.2244 [HB1652 Detail]
Download: New_Hampshire-2012-HB1652-Amended.html
HB 1652-FN-A – AS AMENDED BY THE HOUSE
29Mar2012… 1438h
2012 SESSION
09/01
HOUSE BILL 1652-FN-A
AN ACT requiring the transfer of insurance premium tax revenue to the department of health and human services and the revenue stabilization reserve account.
SPONSORS: Rep. K. Murphy, Hills 18
This bill requires the transfer of insurance premium tax revenue in an amount equal to the amount of the surplus for fiscal year 2011 to the department of health and human services and the revenue stabilization reserve account.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
29Mar2012… 1438h
12-2856
09/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twelve
AN ACT requiring the transfer of insurance premium tax revenue to the department of health and human services and the revenue stabilization reserve account.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Transfer of Insurance Premium Tax Revenue to Department of Health and Human Services and Revenue Stabilization Reserve Account. Notwithstanding the provisions of RSA 9:13-e and RSA 400-A:32, on April 1, 2012, the state treasurer shall transfer revenue received from the insurance premium tax pursuant to RSA 400-A:32 in an amount equal to any surplus for the fiscal year ending June 30, 2011, as determined by the official audit performed pursuant to RSA 21-I:8, II(a), as follows:
I. $1,500,000 shall be transferred to the department of health and human services for the purpose of providing services to the developmentally disabled.
II. The remainder shall be transferred to the revenue stabilization reserve account, established under RSA 9:13-e.
2 Effective Date. This act shall take effect April 1, 2012.
LBAO
12-2856
Revised 04/13/12
Amended 04/12/12
HB 1652 FISCAL NOTE
AN ACT requiring the transfer of insurance premium tax revenue to the department of health and human services and the revenue stabilization reserve account.
FISCAL IMPACT:
The Office of Legislative Budget Assistant states this bill, as amended by the House (Amendment #2012-1438h), will decrease state general fund revenue by $17,700,000, increase state restricted revenue by $16,200,000, and increase state expenditures by $3,000,000 in FY 2012. This bill will have no fiscal impact on county and local revenue or expenditures.
METHODOLOGY:
The Office of Legislative Budget Assistant states this bill requires the transfer of insurance premium tax revenue in an amount equal to the amount of the surplus for fiscal year 2011 as follows –
• $1,500,000 to the Department of Health and Human Services (DHHS) for the purpose of providing services to the developmentally disabled (DD); and
• The remainder to the revenue stabilization reserve account (also referred to as the rainy day fund).
The Comprehensive Annual Financial Report (CAFR) for the fiscal year ending June 30, 2011 reports a surplus of approximately $17,700,000. This bill would transfer $1,500,000 to DHHS for the purposes of DD services, and the remaining $16,200,000 to the rainy day fund.
The Department of Health and Human Services states they will receive $1,500,000 in FY 2012 from insurance premium tax revenue as a result of this bill. As a result, the Department is eligible for $1,500,000 in matching federal funds when DD services are actually provided, resulting in an increase in total state expenditures (state and federal) of $3,000,000. Current appropriations for DD waitlist services are non-lapsing for the biennium. The Department states although they will receive the funds in FY 2012, due to the mechanics of arranging and providing services, they will most likely not be able to expend the funds until FY 2013.
