This bill amends RSA 198:20-d to allow school districts and cities with dependent school districts to incur debt through reimbursement anticipation notes. The governing body of the district may borrow funds in anticipation of reimbursements under specific statutes (RSA 186-C:18 and RSA 198:42) and recognize the proceeds as revenue for property tax rate setting purposes. A key insertion in the bill stipulates that the proceeds from such borrowing must only be used for the same purpose as the anticipated funds, ensuring that the funds are allocated appropriately.

Additionally, the bill exempts any borrowing under this section from the debt limit provisions outlined in RSA 33. This change aims to provide school districts with greater financial flexibility while maintaining accountability regarding the use of borrowed funds. The act is set to take effect upon its passage, which is anticipated to be on June 12, 2026.

Statutes affected:
Introduced: 198:20-d
Version adopted by both bodies: 198:20-d
CHAPTERED FINAL VERSION: 198:20-d
HB1495 text: 198:20-d