This bill amends the existing law regarding 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 that can be in force from $200,000,000 plus interest on June 1, 2023, to $400,000,000 plus interest on June 1, 2026. The current law, as outlined in RSA 162-A:22, previously included a series of incremental increases to the credit limit, which are now updated to reflect this new maximum.

The bill also includes a provision that it will take effect immediately upon its passage. This change aims to enhance the financial capacity of the New Hampshire business finance authority, allowing for greater support of business projects and initiatives within the state.

Statutes affected:
Introduced: 162-A:22
As Amended by the House: 162-A:22
HB1042 text: 162-A:22