HB 1154-FN - AS INTRODUCED
2000 SESSION
HOUSE BILL 1154-FN
AN ACT prohibiting general fund appropriations and transfers of general fund surplus to supplement the education trust fund.
SPONSORS: Rep. Jacobson, Merr 2
This bill prohibits the legislature from using general fund appropriations or transfers of general fund surplus to supplement the education trust fund as a source of payment of adequate education grants.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
00-2288
09/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand
AN ACT prohibiting general fund appropriations and transfers of general fund surplus to supplement the education trust fund.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Education Trust Fund To Be Sole Source of Funding Adequate Education Grants. Amend the introductory paragraph of RSA 198:39, I to read as follows:
I. The state treasurer shall establish an education trust fund in the treasury. Moneys in such fund shall not be used for any purpose other than to distribute adequate education grants to municipalities' school districts pursuant to RSA 198:42. The education trust fund shall be the sole source of funding adequate education grants. The state treasurer shall deposit into this fund immediately upon receipt:
2 New Paragraph; General Fund Appropriations to Education Trust Fund Prohibited. Amend RSA 198:39 by inserting after paragraph II the following new paragraph:
III. The legislature shall not appropriate general funds or general fund surplus to the education trust fund.
3 Repeal. RSA 198:39, I(k), relative to general funds appropriated to the education trust fund, is repealed.
4 Effective Date. This act shall take effect June 30, 2000.
LBAO
00-2288
11/4/99
HB 1154-FN - FISCAL NOTE
AN ACT prohibiting general fund appropriations and transfers of general fund surplus to supplement the education trust fund.
FISCAL IMPACT:
The Legislative Budget Assistant indicates this bill will have no fiscal impact on state, county, and local revenue or expenditures.
METHODOLOGY:
The Legislative Budget Assistant states this bill has no fiscal impact on state revenue and expenditures, but may result in a reclassification among fund equity accounts. This bill prohibits the legislature from using general fund appropriations or transfers of general fund surplus to supplement the education trust fund as a source of payment of adequate education grants beginning in FY 2001.