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November Revenues Double Surplus, Keeping Receipts Just Above Plan

December 13, 2017 Common Cents
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Lawmakers seeking to pass bills that require spending will be watching the surplus carefully next session. Any bills that call for spending money during the 2018 Legislative Session require either more revenue to come in than expected under the current State Budget or a new revenue source to be established. November’s tax revenue receipts gave legislators reason to be optimistic, but the surplus may disappear if receipts from subsequent months fall lower than planned. December is a key month for business tax revenues, for example, and a small percentage change in collections may erase all of November’s gains or add to them. State policymakers may also face challenges from unexpected needs or Keno revenue shortfalls, which would hamper the State’s ability to pay its obligations to subsidize full-day kindergarten.

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Elections Highlight Continuing Questions About Keno Revenue

November 8, 2017 Common Cents
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While results are still preliminary, Keno gaming appears to have been legalized in seven cities around New Hampshire as a result of Tuesday’s votes. The margin of victory in Rochester for Keno legalization was reportedly only one vote and may still be subject to change or recount, but voters appear to have legalized Keno gaming in Berlin, Claremont, Laconia, Manchester, Nashua, Rochester, and Somersworth. Voters in Concord, Dover, and Keene voted against Keno gaming legalization. Franklin had legalized Keno gaming previously, and the Portsmouth City Council decided to not put Keno on the ballot. Other municipalities, including the City of Lebanon, may make decisions regarding Keno legalization next year. These results have implications for State policy and finances.

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October Revenues Above Plan Despite Sluggish Real Estate Transfer Tax

November 2, 2017 Common Cents
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October revenues for the General and Education Trust Funds met the State’s anticipated revenue plan based on State Budget expenditures, but the relative strengths and weaknesses of certain revenue sources and comparatively small revenue surpluses may limit the Legislature’s flexibility in future deliberations. As with earlier revenues thus far this fiscal year, the receipts did not show robust growth over the prior year or a significant revenue surplus above plan. October cash revenues for the General and Education Trust Funds were $3.2 million (2.6 percent) above plan, boosting the revenue surplus for State fiscal year 2018, which began on July 1, to $5.5 million (0.9 percent) thus far.

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New Hampshire’s Complex Transportation Funding Challenges

30 Jan 2018

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Investments in the operation, maintenance, and construction of transportation infrastructure in New Hampshire often draw from many different sources and funds. Decisions about financing mixes, timelines, projected interest costs, and the effects of deteriorating or enhanced transportation infrastructure at any level of government can all influence projects.