This bill aims to update and clarify the management of dedicated funds within the state's accounting system. It introduces new categories of dedicated funds, including those related to water resources, drinking water, and various trust funds, while also restructuring their placement within existing law. Specifically, it amends RSA 6:12 to include new subparagraphs that define these funds and accounts, such as the water resources project accounts and the drinking water groundwater trust fund. Additionally, the bill modifies the definition of "custodial fund or account" to clarify the fiduciary responsibilities of the state as a custodian of these assets.

Furthermore, the bill repeals outdated references to certain funds and accounts, streamlining the legal framework governing state funds. It replaces the term "agency" with "permanent" and "endowment" in the title of RSA 6:12-c, reflecting a more accurate categorization of these funds. The reporting requirements for dedicated funds are also updated, changing the deadline for annual reports from September to October 15. Overall, the bill seeks to enhance the clarity and efficiency of fund management in the state, as requested by the state treasurer and state comptroller.

Statutes affected:
Introduced: 6:12, 6:12-c, 6:12-d, 6:12-f
As Amended by the House: 6:12, 6:12-c, 6:12-d, 6:12-f