SB 110-FN-A - AS AMENDED BY THE HOUSE
5/9/01 1084s
31may01...1201h
2001 SESSION
04/01
SENATE BILL 110-FN-A
AN ACT extending the kindergarten construction program.
SPONSORS: Sen. O'Hearn, Dist 12; Sen. Johnson, Dist 3; Sen. McCarley, Dist 6; Sen. Larsen, Dist 15; Rep. Burling, Sull 1; Rep. Leishman, Hills 13; Rep. Estabrook, Straf 8
This bill extends the kindergarten construction program through the fiscal year ending June 30, 2006 and increases by $15,000,000 the amount of the bonded appropriation for the kindergarten construction program. The bill also repeals the kindergarten construction program effective July 1, 2007.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
5/9/01 1084s
31may01...1201h
01-1018
04/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand One
AN ACT extending the kindergarten construction program.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 School Money; Kindergarten Construction Program Extended. Amend RSA 198:15-r, I to read as follows:
I.(a) There is established in the department of education a kindergarten construction program. For the [5-year] 9-year period starting July 1, 1997, and ending June 30, [2002] 2006, the commissioner of education shall make grants available to eligible districts that currently do not operate a public kindergarten program to cover [75 percent] a percentage of the actual cost of construction of kindergarten facilities, exclusive of site acquisition and core facilities as follows:
(1) 75 percent through the fiscal year ending June 30, 2002.
(2) 70 percent for the fiscal year ending June 30, 2003.
(3) 65 percent for the fiscal year ending June 30, 2004.
(4) 60 percent for the fiscal year ending June 30, 2005.
(5) 55 percent for the fiscal year ending June 30, 2006.
(b) The commissioner shall also make grants available to eligible districts that currently operate a public kindergarten program for [75 percent] a percentage of the cost of construction as set forth in subparagraph I(a), exclusive of site acquisition, needed to provide the kindergarten program with classrooms that meet the appropriate standards for school building construction established by the state board of education, pursuant to RSA 541-A and under the authority of RSA 21-N:9, II(c). Grants shall also cover the cost of initial equipment needed to operate a kindergarten program.
2 Kindergarten Construction Program; Appropriation Amended. Amend 1997, 348:6 to read as follows:
348:6 Appropriation; Kindergarten Construction. A sum not to exceed [$22,500,000] $37,500,000 is hereby appropriated to the department of education for the purposes of constructing kindergarten classrooms. This appropriation shall be nonlapsing and in addition to any other appropriation to the department of education; provided, however, that the department of education shall not approve grant requests for such purposes for more than:
I. $6,000,000 in the biennium ending June 30, 1999.
II. $5,000,000 in the fiscal year ending June 30, 2000.
III. $5,000,000 in the fiscal year ending June 30, 2001.
IV. $6,500,000 in the fiscal year ending June 30, 2002.
V. $4,500,000 in the fiscal year ending June 30, 2003.
VI. $3,500,000 in the fiscal year ending June 30, 2004.
VII. $3,500,000 in the fiscal year ending June 30, 2005.
VIII. $3,500,000 in the fiscal year ending June 30, 2006.
3 Kindergarten Construction Program; Bonding Amount Amended. Amend 1997, 348:7, I as amended by 1997, 351:56 to read as follows:
I. To provide funds for the appropriation made in section 6 of this act, the state treasurer is hereby authorized to borrow upon the credit of the state not exceeding the sum of [$22,500,000] $37,500,000 and for said purpose may issue bonds and notes in the name of and on behalf of the state of New Hampshire in accordance with RSA 6-A; provided that bonds or notes shall not be issued in excess of:
(a) $6,000,000 in the biennium ending June 30, 1999.
(b) $5,000,000 in the fiscal year ending June 30, 2000.
(c) $5,000,000 in the fiscal year ending June 30, 2001.
(d) $6,500,000 in the fiscal year ending June 30, 2002.
(e) $4,500,000 in the fiscal year ending June 30, 2003.
(f) $3,500,000 in the fiscal year ending June 30, 2004.
(g) $3,500,000 in the fiscal year ending June 30, 2005.
(h) $3,500,000 in the fiscal year ending June 30, 2006.
4 Repeal. RSA 198:15-r through 198:15-t, relative to the kindergarten construction program, is repealed.
5 Effective Date.
I. Section 4 of this act shall take effect July 1, 2007.
II. The remainder of this act shall take effect July 1, 2001.
LBAO
01-1018
1/19/01
SB 110-FN-A - FISCAL NOTE
AN ACT extending the kindergarten construction program.
FISCAL IMPACT
The Treasury Department has determined that this bill will increase state general fund expen-ditures by $0 in FY 2002, by $545,875 in FY 2003, by $1,076,750 in FY 2004 and by $1,046,750 in FY 2005. There will be no effect on county or local expenditures or on state, county and local revenues. This bill increases general fund bonded indebtedness by $10,000,000; $5 million in FY 2003 and $5 million in FY 2004.
The Treasury Department has indicated that the amount of all outstanding general obligation bonded indebtedness on behalf of and incurred by the state as of June 30, 2000 is $592,100,000. The amount of general fund bonds authorized, but unissued as of June 30, 2000 is $192,000,000.
The Treasury Department has assumed that the proposed bond authorization will be issued half in the first year the bonds are issued and half in the second year. Current Interest Bond rates are variable based on July 2000 rates and are amortized over 20 years (60% of the principal paid in the first ten years, 40% paid in the second 10 years). An estimated debt retirement schedule for all outstanding general fund bonded indebtedness, including the proposed authorization contained in this bill through FY 2005, is displayed below:
|
FISCAL YEAR ENDING |
CURRENT DEBT SERVICE |
PROPOSED ADDITIONAL DEBT SERVICE |
TOTAL | |||
2001 |
$64,769,000 |
$0 |
$64,769,000 | |||
2002 |
$58,094,000 |
$0 |
$58,094,000 | |||
2003 |
$57,260,000 |
$545,875 |
$57,805,875 | |||
2004 |
$56,603,000 |
$1,076,750 |
$57,679,750 | |||
2005 |
$52,385,000 |
$1,046,750 |
$53,431,750 |