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The State Budget for Fiscal Years 2018 and 2019

July 13, 2017 State Budget
New Hampshire State House

New Hampshire’s State Budget provides the basis through which most State activities are funded for the next two years. While the overall growth in this budget is slightly less than the growth of its predecessor, revenues projected to be available enabled the Governor and the Legislature to fund certain state-level priorities. This State Budget emphasizes care for children and youths, including through child protection, mental health care, substance use disorder treatment, and juvenile justice changes, relative to certain other priorities. Substantial tax cuts for businesses were enacted, with the potential for future revenue declines that are not likely to be fully offset by other revenue increases.

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The State Senate’s Proposed Budget

June 13, 2017 State Budget
Senate Chamber

The State Senate, using the Governor’s operating budget proposal from February as a baseline, crafted a State operating budget that reduces spending though changes to program funding levels and to anticipated federal funds. The Senate reduced appropriated spending from the Governor’s budget by $324.7 million, accomplished in part by planning to authorize up to $237.8 million through other mechanisms outside of the State Budget. About 63 percent of the program areas were funded at levels proposed by Governor Sununu’s budget, and while the Senate budget grows from the current State fiscal year (SFY) 2017 budget by approximately 1.7 percent for SFY 2018, about 41.3 percent of program areas would receive the same funding or less in SFY 2018.

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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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Common Cents Blog

State’s Diverse Tax Base Stabilizes Revenue, But Business Tax Changes May Increase Volatility

29 Jun 2017

tree with coins

New Hampshire’s state tax revenue is relatively stable, but the State’s largest tax may be among the most volatile types of common taxes, a new analysis from The Pew Charitable Trusts suggests. Between 1997 and 2016, New Hampshire’s tax volatility, as measured through percentage changes from the prior fiscal year, was only higher than five other states, suggesting New Hampshire’s tax revenues do not typically deviate dramatically from year to year relative to other states. However, digging into the diverse revenue streams and drawing on the experiences from other states shows some risk for New Hampshire.