SB 195-FN - AS INTRODUCED
2001 SESSION
05/09
SENATE BILL 195-FN
AN ACT permitting the department of regional community-technical colleges to lease building space from the Pease development authority in exchange for a reduction in Pease development authority's debt owed to the state.
SPONSORS: Sen. Johnson, Dist 3; Sen. D'Allesandro, Dist 20; Rep. Weyler, Rock 18
This bill permits the department of regional community-technical colleges to lease building space from the Pease development authority in exchange for a reduction in Pease development authority's debt owed to the state.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
01-1085
05/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand One
AN ACT permitting the department of regional community-technical colleges to lease building space from the Pease development authority in exchange for a reduction in Pease development authority's debt owed to the state.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Lease Agreement Authorized. The department of regional community-technical colleges and Pease development authority shall enter into a lease agreement in which the New Hampshire regional community-technical college system shall occupy the first floor, consisting of 71,243 square feet, of 320 Corporate Drive, Portsmouth, New Hampshire. In exchange, the state shall reduce Pease development authority's debt owed to the state relative to start-up funding costs under 1991, 355:110; 1992, 260:12; 1993, 358:3; 1994, 415:1; 1994, 339:1; and 1995, 307:10 by $1,068,644 per year, subject to annual adjustments over time of not more than 3 percent per year or 12 percent in any 5-year period. The lease term shall be for 10 years or until such time as the debt owed to the state relative to the authority's start-up funding costs has been exhausted. After 10 years or the exhaustion of the debt, whichever occurs first, the parties may renegotiate the lease agreement based on payment of a fair market rate for the property.
2 Effective Date. This act shall take effect July 1, 2001.
LBAO
01-1085
4/3/01
SB 195-FN - FISCAL NOTE
AN ACT permitting the department of regional community-technical colleges to lease building space from the Pease development authority in exchange for a reduction in Pease development authority's debt owed to the state.
FISCAL IMPACT:
The Office of Legislative Budget Assistant is unable to complete a fiscal note for this bill as it is awaiting information from an agency.