This bill amends RSA 33:7-e to clarify that building or facility improvements that become fixtures related to the installation, purpose, or operation of leased equipment cannot be financed through lease agreements. The exception to this rule is for energy performance contracts as authorized by RSA 21-I:19-d. The bill also repeals and reenacts RSA 33:7-e to be effective starting July 1, 2027, maintaining the same prohibition on financing such improvements through lease agreements.

The bill specifies that lease agreements with nonappropriation clauses are not to be treated as debt under RSA 33:4-a and can be approved by a simple majority vote of the legislative body. The definition of "lease" in this context includes lease-purchase, sale and lease back, installment sale, or other similar agreements for acquiring the use or ownership of equipment needed by the municipality. The effective date for the initial changes is 60 days after the bill's passage, while the reenacted section will take effect on July 1, 2027.

Statutes affected:
Introduced: 33:7-e, 33:8, 33:8-a
As Amended by the House: 33:7-e
As Amended by the Senate: 33:7-e
Version adopted by both bodies: 33:7-e