This bill amends existing laws to increase the unified contingent credit limit for projects and programs under the New Hampshire business finance authority, as well as to raise the cap on outstanding obligations for the housing finance authority. Specifically, the bill raises the unified contingent credit limit from $200,000,000 to $450,000,000 by June 1, 2026. Additionally, it increases the maximum outstanding obligations for the housing finance authority from $600,000,000 to $1,000,000,000, and allows for the issuance of notes and bonds up to $2,400,000,000, up from $800,000,000, for specified purposes related to housing finance.

The bill also modifies the provisions regarding the issuance of notes and bonds by the housing finance authority, allowing for a total of $2,600,000,000 in obligations, an increase from the previous limit of $600,000,000. These changes aim to enhance the authority's capacity to finance housing projects and support eligible individuals and families in acquiring or rehabilitating housing. The effective date for the provisions related to the housing finance authority will be 60 days after passage, while the remainder of the act will take effect immediately upon passage.

Statutes affected:
Introduced: 162-A:22
As Amended by the House: 162-A:22
As Amended by the Senate: 162-A:22, 204-C:28
HB1042 text: 162-A:22