This bill amends RSA 33:7-e regarding lease agreements for equipment by clarifying the treatment of building or facility improvements that become fixtures. Specifically, it states that such improvements shall not be financed under the section for leased agreements of equipment. The bill removes the previous language that allowed for the financing of these improvements through lease agreements, thereby establishing that they are not considered equipment for the purposes of these agreements.

The new legal language inserted into the bill specifies that building or facility improvements that become fixtures related to the installation, purpose, or operation of equipment shall not be deemed as equipment. This change aims to ensure that municipalities cannot finance these types of improvements through lease agreements, which are typically reserved for equipment. The bill will take effect 60 days after its passage.

Statutes affected:
Introduced: 33:7-e