This bill proposes the consolidation of the New Hampshire Health and Education Facilities Authority (HEFA) into the New Hampshire Business Finance Authority (BFA), effective July 1, 2025. The BFA will assume all rights, powers, duties, and properties of HEFA, ensuring a seamless transition of existing contracts, obligations, and liabilities, while also transferring all assets from HEFA to BFA. The legislation introduces new definitions related to postsecondary education and healthcare institutions into RSA 162-A, including terms such as "institution for postsecondary education or higher education" and "participating nonprofit health care institution," aimed at enhancing the efficiency and public impact of financing operations that benefit New Hampshire citizens and communities.

Additionally, SB 56 amends the management structure of the BFA by increasing the board of directors from 14 to 16 members, with the governor now appointing 11 members instead of 9. The board will include a postsecondary education or higher education official and a healthcare official, replacing previous requirements for a regional planning commission member and a local official. The bill also expands the definitions of "bond," "eligible facility," and "project" to encompass a wider range of financial instruments and project types. It modifies the bond execution process to allow for a single designated person to execute bonds and permits facsimile signatures with an authentication agent, while removing the requirement for multiple signatures. Furthermore, the authority is restricted from acquiring interests in projects or issuing bonds without the approval of the governor and council, ensuring actions serve a public benefit.

Statutes affected:
Introduced: 162-A:2, 162-A:4, 162-I:2, 162-I:8