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House Finance Committee Finalizes Full Budget

March 28, 2017 Common Cents
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The House Finance Committee completed its version of the budget on March 28, which is two days ahead of the deadline set by legislative leadership. With the House Ways and Means Committee projecting $86.7 million less in revenues than Governor Sununu’s projections for State fiscal years (SFY) 2017, 2018, and 2019, the House Finance Committee was restricted to using less surplus income from SFY 2017. The House also expects $58.8 million less revenue to come in during SFYs 2018 and 2019, requiring a smaller budget relative to the $12.185 billion plan put forward by Governor Sununu.

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Federal Funding’s Future in Flux

March 27, 2017 Common Cents
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About 30.3 percent of New Hampshire’s state budget is funded using transfers from the federal government for State fiscal year 2017. This percentage is slightly below the typical proportion for states. These funds come through a variety of federal programs designed to either promote certain initiatives or priorities at the state level or to otherwise administer programs with the assistance of state governments; examples include health care and education programs and grants supporting transportation, clean water, and housing initiatives. States have some flexibility over these programs in many cases, and sometimes states are also required to contribute a portion of the program’s funding, or matching funds, to receive federal money to implement the program.

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The Budget Trailer Bill Hits The Road

February 22, 2017 Common Cents
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On February 21, the Office of Legislative Budget Assistant published the public version of House Bill 2, also called the “Trailer Bill.” In this proposed legislation, Governor Sununu outlined the policy changes that enable some of the proposed modifications to State government indicated in the primary budget document, House Bill 1, released on February 9 to coincide with the Governor’s budget address. House Bill 2 will now be scrutinized by the Legislature and move through the process alongside House Bill 1, which allocates the funding to specific line items.

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House Finance Committee Finalizes Full Budget

28 Mar 2017

tree with coins

The House Finance Committee completed its version of the budget on March 28, which is two days ahead of the deadline set by legislative leadership. With the House Ways and Means Committee projecting $86.7 million less in revenues than Governor Sununu’s projections for State fiscal years (SFY) 2017, 2018, and 2019, the House Finance Committee was restricted to using less surplus income from SFY 2017. The House also expects $58.8 million less revenue to come in during SFYs 2018 and 2019, requiring a smaller budget relative to the $12.185 billion plan put forward by Governor Sununu.