This bill amends the existing provisions related to the Winnipesaukee River Basin Control Replacement Fund, specifically adjusting the capitalization percentage and the procedures for contributions and reimbursements. The capitalization amount is changed from 5 percent to 2 percent of the value of the treatment facilities' equipment and depreciable assets, with the valuation to be computed every five years based on current replacement costs. Notably, the capitalization value will apply to the valuation starting June 30, 2024. Additionally, the bill modifies the language regarding member contributions, replacing "prorated" with "adjusted" to reflect changes in membership and valuation.

The bill also introduces new provisions for the reimbursement of expenditures from the fund, allowing members to restore their share over a 10-year period or a shorter timeframe at their discretion. It clarifies that if repair costs exceed the fund's value for a specific facility, the excess will be covered by other facilities' funds, with reimbursement assessed back to members. Furthermore, it includes adjustments to the fund in cases of member exits or consolidations, ensuring that projected use and financial obligations are accurately reflected. The effective date for the changes is set for May 28, 2026, with specific provisions taking effect on June 30, 2029.

Statutes affected:
Introduced: 485-A:51
Version adopted by both bodies: 485-A:51
CHAPTERED FINAL VERSION: 485-A:51
HB1435 text: 485-A:51