This bill amends the unified contingent credit limit for projects and programs under the New Hampshire business finance authority. Specifically, it raises the total amount of state guarantees in force from a previous cap of $200,000,000 to a new limit of $450,000,000, with interest. The bill outlines a timeline for gradual increases in the credit limit, which includes increments to $80,000,000 in 1993, $95,000,000 in 1994, and $115,000,000 in 2015, before reaching the new limit by June 1, 2026.

Additionally, the bill updates the relevant legal language in RSA 162-A:22 by deleting the previous cap of $200,000,000 and inserting the new cap of $450,000,000. The effective date of the act is set to be upon its passage, allowing for immediate implementation of the increased credit limit.

Statutes affected:
Introduced: 162-A:22
HB1042 text: 162-A:22