New Hampshire HB 1427: establishing the regulation and licensure of deputy physicians.

Bill Text

HB 1427-FN - AS INTRODUCED

2026 SESSION

 26-2546

 12/09

HOUSE BILL 1427-FN

AN ACT limiting the authority of a municipality, county, or school district to issue bonds.

SPONSORS: Rep. McFarlane, Graf. 18; Rep. Corcoran, Hills. 28; Rep. Berry, Hills. 44; Rep. Mary Murphy, Hills. 27; Rep. D. McGuire, Merr. 14; Rep. D. Kelley, Hills. 32; Rep. McGrath, Rock. 40; Rep. Bjelobrk, Graf. 5

COMMITTEE: Municipal and County Government

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ANALYSIS

 This bill limits the authority of municipalities, counties, and school districts to issue bonds to only circumstances of declared emergencies, where essential infrastructure is at risk, for securement of substantial matching funds, or where directed by the express will of the voters.

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 Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

 26-2546

 12/09

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Twenty-Six

AN ACT limiting the authority of a municipality, county, or school district to issue bonds.

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

 1 Short Title. This act shall be known as the "Sustainable, Honest Investment, and Elimination of Local Debt Act," or the "SHIELD Act." 

 2 Statement of Purpose. The people of New Hampshire have long valued prudence, thrift, and responsible stewardship of public resources. Given that reliance on debt places an unfair burden on future generations, who are compelled to pay for obligations which they did not choose, the general court recognizes that sound governance requires that communities plan ahead, establish capital reserve funds, and save for known needs rather than resorting to borrowing. The purpose of this act is therefore to restrict the use of bonds to only true emergencies and extraordinary circumstances, and not as a substitute for fiscal discipline. 

 3 New Section; Limitations on Bonding Authority. Amend RSA 33 by inserting after section 3-g the following new section: 

 33:3-h Limitations on Bonding Authority. 

 I. For the purposes of this section: 

 (a) “Declared emergency” shall include, but not be limited to, emergencies formally declared by the governor under RSA 4:45, by federal authorities, or by the governing body of the municipality, county, or school district, provided that a finding by a local governing body made in bad faith or with fraudulent intent shall subject the members voting in favor to personal liability under RSA 31:39-a and other applicable laws. 

 (b) “Essential infrastructure” shall mean facilities and systems directly necessary for the provision of drinking water, wastewater treatment, emergency services, and public safety, and closely related facilities whose failure would pose an imminent threat to public health or safety.

 II. Except as otherwise provided in this section, no municipality, county, or school district shall issue bonds for any purpose after January 1, 2027. 

 III. Until January 1, 2031, a municipality, county, or school district may issue bonds which would otherwise be prohibited by this section with a maturity of not more than 10 years, provided that the total principal amount of all such bonds shall not exceed 100 percent of the entity’s annual budget or 50 percent of the entity’s biennial budget as adopted for the fiscal period (annum or biennium) in which the bonds are issued. Upon expiration of the 4 year period, only bonds meeting the exemptions in paragraph IV shall be permitted. 

 IV. The prohibitions of this section shall not apply to bonds issued: 

 (a) For response to or recovery from a declared emergency, including natural disasters, man-made disasters, public health emergencies, or other events formally declared by the governor, the federal government, or the governing body of the political subdivision; or

 (b) For repair or replacement of essential infrastructure whose failure poses an imminent threat to public health, safety, or welfare; or

 (c) For emergency replacement of heating systems, boilers, or other building systems essential for the continued safe operation of public facilities; or

 (d) Securing federal or state matching funds, provided that the value of such matching funds is at least equal to the principal amount of the bonds issued, and provided further that the failure to act would result in forfeiture of such funds; or

 (e) Individually and explicitly authorized by warrant article, voted on by the registered voters of the town, district, or county at a duly warned meeting, provided that at least a majority of all registered voters participate in the v