This bill amends RSA 33:7-e regarding lease agreements for equipment by clarifying the treatment of building or facility improvements. Specifically, it states that improvements that become fixtures related to the installation, purpose, or operation of equipment shall not be considered equipment for financing purposes. Consequently, the costs associated with these improvements cannot be financed through lease agreements under this section. The bill removes the previous language that allowed for the financing of such improvements, thereby tightening the definition of what constitutes equipment eligible for lease financing.

Additionally, the bill stipulates that appropriations for lease agreements with nonappropriation clauses can be approved by a simple majority vote of the legislative body and clarifies that these agreements shall not be treated as debt under RSA 33:4-a. The effective date of the act is set for 60 days after its passage.

Statutes affected:
Introduced: 33:7-e