The bill SB 547 proposes amendments to the New Hampshire Land and Community Heritage Investment Program (LCHIP) to refine its definitions, administration, and fund usage. It expands the definition of "easement interests" to include scenic and other types of easements, ensuring consistency with RSA 477:45, and introduces new terms such as "enforcement," "farm viability program," "grant obligations," and "property." The term "resource asset" is replaced with "property" to align with these new definitions. The bill also allows for a one-time investment in a stewardship endowment fund as an eligible expense, adjusts matching funds requirements, updates project selection criteria to emphasize local support and stewardship ability, and outlines management responsibilities for property owners receiving funds. A portion of program funds or applicant contributions must be allocated to a monitoring endowment, and the title of a director is changed to the commissioner of the department of business and economic affairs.

The bill further specifies that funds from the monitoring endowment are to be used to enforce grant obligations and support monitoring of properties subject to grant obligations, replacing the previous focus on "easement interests acquired." It amends RSA 227-M:15 to require lands purchased with program funds to be open for passive recreational purposes or for the term of any farm viability term easement, and it ensures that the language in grant obligations or easement interests reflects the bill's intent. The amendment to RSA 227-M:16 changes the terms for recapturing the program trust fund's cash investment when property acquired through program funds is transferred, replacing "sold" with "transferred," and clarifying exemptions to the recapture rule. The act is set to take effect on October 01, 2024.

Statutes affected:
Introduced: 227-M:2, 227-M:4, 227-M:8, 227-M:9, 227-M:10, 227-M:12, 227-M:16
As Amended by the Senate: 227-M:2, 227-M:4, 227-M:8, 227-M:9, 227-M:10, 227-M:12, 227-M:16
As Amended by the House: 227-M:2, 227-M:4, 227-M:8, 227-M:9, 227-M:10, 227-M:12, 227-M:16
Version adopted by both bodies: 227-M:2, 227-M:4, 227-M:8, 227-M:9, 227-M:10, 227-M:12, 227-M:16
CHAPTERED FINAL VERSION: 227-M:2, 227-M:4, 227-M:8, 227-M:9, 227-M:10, 227-M:12, 227-M:16