New Hampshire HB 1539: relative to annulling, resentencing, or discontinuing prosecution of certain cannabis offenses.

Bill Text

HB 1539-FN - VERSION ADOPTED BY BOTH BODIES

19Feb2026... 0409h

2026 SESSION

 26-2605

 06/08

HOUSE BILL 1539-FN

AN ACT authorizing electric utilities to issue AAA-rated bonds for the purpose of storm cost recovery and infrastructure resilience.

SPONSORS: Rep. Vose, Rock. 5; Rep. Bernardy, Rock. 36; Rep. Harrington, Straf. 18; Rep. Mooney, Hills. 12; Rep. Schneller, Hills. 2; Rep. D. Thomas, Rock. 16; Sen. Avard, Dist 12; Sen. Watters, Dist 4

COMMITTEE: Science, Technology and Energy

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ANALYSIS

 This bill authorizes the securitization of storm-related electric utility costs through finance orders issued by the public utilities commission.

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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 Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

19Feb2026... 0409h

 26-2605

 06/08

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Twenty-Six

AN ACT authorizing electric utilities to issue AAA-rated bonds for the purpose of storm cost recovery and infrastructure resilience.

Be it Enacted by the Senate and House of Representatives in General Court convened:

 1 Declaration of Purpose and Findings. New Paragraph; Declaration of Purpose and Findings. Amend RSA 369-B:1 by inserting after paragraph XVI the following new paragraph:

 XVII. It is in the public interest for the commission to issue a finance order that is subject to the requirements of this chapter and that authorizes the issuance of rate reduction bonds that securitize storm costs.

 2 New Subparagraph; Definitions. Amend RSA 369-B:2, XIV by inserting after subparagraph (g) the following new subparagraph:

 (h) Storm costs. 

 3 New Paragraph; Definitions. Amend RSA 369-B:2 by inserting after paragraph XVIII the following new paragraph:

 XIX. “Storm costs” means (i) any costs that the commission determines after a hearing to have been prudently incurred by an electric utility for preparation, restoration, and response to storm damage disrupting the normal operation of the electric system and (ii) in each case, all fees, expenses and transaction costs incurred in connection with the issuance, servicing, retirement or refinancing of rate reduction bonds whose proceeds are used to pay off the costs described in clause (i) of this definition.

 4 Authority to Issue Finance Orders to Finance RRB Costs. Amend RSA 369-B:3, I to read as follows:

 I. The commission is authorized, upon the petition of an electric utility and after a hearing, to issue one or more finance orders pursuant to which rate reduction bonds shall be issued, if the commission finds that the issuance of such finance order or finance orders is in the public interest as set forth in RSA 369-B:1, IX or RSA 369-B:1, XVI, or RSA 369-B:1, XVII as applicable. Any finance order adopted pursuant to 1999, 289:3, I and II prior to the effective date of this chapter shall, following the effective date of this chapter, be deemed to be authorized by this chapter, provided the commission has made the required finding pursuant to RSA 369-B:3, IV(b). 

 5 New Subparagraph; Authority to Issue Finance Orders to Finance RRB Costs. Amend RSA 369-B:3, IV by inserting after subparagraph (c) the following new subparagraph:

 (d) Authorize the issuance of rate reduction bonds in an amount sufficient to fund any storm costs. The net benefits of accumulated deferred income taxes relating to amounts that will be recovered through any such issuance of rate reduction bonds shall be credited to retail customers by reducing the amount of such rate reduction bonds that would otherwise be issued by the net present value of the related tax cash flows, using a discount rate equal to the expected interest rate on such rate reduction bonds. This authorization is in addition to any amount authorized in subparagraph (a), (b) or (c).

 6 New Section; Finance Orders Concerning Storm Costs. Amend RSA 369-B by inserting after section 3-b the following new section:

 369-B:3-c Finance Orders with Respect to Storm Costs. An electric utility may submit to the commission an application for a finance order with respect to incurred storm costs. Storm costs shall be paid off with the proceeds of rate reduction bonds if the commission determines that the issuance of such rate reduction bonds is in the public interest. A determination that such rate reduction bonds are in the public interest may be based on reasons including, but not limited to, a showing that retail customers would experience lower overall costs if such rate reduction bonds are issued, as compared to traditional recovery calculated over the same time period, or that such financing would mitigate bill