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Governor Sununu’s Proposed Budget

February 28, 2017 State Budget
New Hampshire State House

The budget proposal presented by Governor Sununu shows a pattern of targeted investments in specific areas, rather than a marginal increase to many areas, and a bevy of proposed policy changes. The entire proposed budget grows by 4.5 percent between the current year and the Governor’s first proposed year while 39.4 percent of program areas would be flat-funded or experience declining appropriations. Several new policy initiatives would provide the framework for both spending in this proposed budget and discussions of future biennial budget proposals.

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Building the Budget: New Hampshire’s State Budget Process and Recent Funding Trends

February 9, 2017 State Budget
Budget Pie Chart Illustration

Building the New Hampshire State Budget is a long process, which includes five major phases, challenging jargon, unwritten norms, multiple revenue estimates, and several different versions of expenditure plans and revenue expectations. But understanding the State Budget is more than just learning the process; it is key to understanding our priorities and values as a State.

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The Conference Committee’s FY 2016-2017 Budget

June 23, 2015 State Budget
New Hampshire State House

In its particulars, the version of the FY 2016-2017 budget approved by the House and Senate conference committee on June 18 bears a strong resemblance to the tax and spending plan adopted by the upper chamber just a few weeks ago. While the conference agreement is intended to finance the operations of state government over the next two fiscal years, it is perhaps more notable for what it will do in the years after the close of the FY 2016-2017 biennium. The agreement includes a set of business tax cuts that, though they will reduce revenue by more than $20 million in the upcoming biennium, will not take full effect until FY 2020; once they do, they will drain more than $100 million out of each biennial budget.

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NHFPI’s 5th Annual Policy Conference

NHFPI Policy Conference

Common Cents Blog

Early Interest and Dividends Tax Payments Boost Surplus

5 Jan 2018

tree with coins

December revenues closed out the first half of State fiscal year 2018 with a sizable increase in the surplus, but the boost’s source suggests the result might be lower receipts in the next half of the year. Revenue sources for the General and Education Trust Funds collected $7.7 million (3.3 percent) more than planned in December, which was $14.4 million (6.4 percent) more than last December and resulted in a total unrestricted revenue surplus of $18.7 million (2.0 percent) above plan for the year. However, $7.3 million of the $7.7 million surplus from December came from a single source: the Interest and Dividends Tax.