This bill proposes the consolidation of the New Hampshire Health and Education Facilities Authority (HEFA) into the New Hampshire Business Finance Authority (BFA), effective July 1, 2026. The merger will transfer all assets, debts, obligations, and employees from HEFA to BFA, with BFA assuming all rights and obligations previously held by HEFA. Existing contracts and agreements of HEFA will remain in force, ensuring no loss of rights or remedies due to the merger. The bill amends existing statutes to replace references to HEFA with BFA, while also establishing a surplus land revitalization program and introducing new definitions related to nonprofit representatives and educational institutions within BFA's operations.

Additionally, SB 56 amends various provisions related to the management and operations of the BFA, including increasing the board of directors from 14 to 16 members and changing its composition to include representatives from education, healthcare, and non-profits. The bill broadens the definition of "bond" to include various financial instruments and clarifies the definition of "eligible facility." It also revises the process for disposing of surplus property owned by the Department of Transportation, requiring a petition from the authority and deleting the previous requirement for committee approval before submission to the governor and council. The bill repeals RSA 162-V:2, which pertained to the surplus land revitalization program, with the majority of the act taking effect on July 1, 2026, and the repeal effective on July 1, 2031.

Statutes affected:
Introduced: 162-A:2, 162-A:4, 162-I:2, 162-I:8
As Amended by the Senate: 162-A:2, 162-A:4, 162-I:2, 162-I:7, 162-I:8, 195-D:1, 195-D:2, 195-D:3, 195-E:2, 195-D:4
As Amended by the House: 162-A:2, 162-A:4, 162-I:2, 162-I:7, 162-I:8, 195-D:1, 195-D:2, 195-D:3, 195-E:2, 195-D:4, 4:40, 228:31-b, 162-V:2
Version adopted by both bodies: 162-A:2, 162-A:4, 162-I:2, 162-I:7, 162-I:8, 195-D:1, 195-D:2, 195-D:3, 195-E:2, 195-D:4, 4:40, 228:31-b, 162-V:2