The proposed bill establishes the New Hampshire First for Veterans Program and the New Hampshire First for Veterans Authority, which will serve as a public instrumentality to provide financial support in the form of grants, block grants, and loans to veterans, service members, and their families. It introduces a new subdivision to RSA 110-B, detailing the program's objectives, such as maintaining New Hampshire's veteran-friendly status, addressing resource demands, and improving veteran well-being. The bill also creates two non-lapsing funds: the New Hampshire First for Veterans Trust Fund and the First for Veterans Administrative Fund, which will receive redirected revenues from existing motor vehicle plate-related funds, impacting funds like the Reflectorized Plate Inventory Fund and the Conservation Plate Fund.

Additionally, the bill outlines the authority's governance structure, which includes a board of directors with 22 members and provisions for appointing an executive director. The authority will have the ability to conduct independent audits, hire staff without adhering to state personnel laws, and accept various forms of funding. While the bill anticipates a significant loss of revenue from existing funds, projected at over $4.8 million in FY 2027, it also expects an increase in general fund expenditures due to the need for a new full-time position to manage the program. However, the overall operational costs remain indeterminable, and local governments will only experience changes in expenditures and revenues if they choose to apply for grants or loans from the authority.

Statutes affected:
Introduced: 6:12
HB1753 text: 6:12