This bill amends the existing law regarding the maximum amount of state guarantees in force, specifically under RSA 162-A. The current limit is set to increase incrementally over the years, with the latest increase scheduled for June 1, 2023, raising the cap to $200,000,000 plus interest. The bill proposes to further amend this limit by adding a new provision that will increase the maximum amount to $500,000,000 plus interest on March 1, 2026.

In summary, the bill modifies RSA 162-A:22 by deleting the previous limit increase to $200,000,000 and inserting a new limit of $500,000,000, thereby significantly raising the state's capacity for guarantees. The act is set to take effect immediately upon passage.

Statutes affected:
Introduced: 162-A:22
SB525 text: 162-A:22