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. It mandates the transfer of all assets, debts, obligations, and employees from HEFA to BFA, with BFA assuming all rights and responsibilities previously held by HEFA. The bill ensures that existing contracts and agreements of HEFA remain in effect as obligations of BFA, and it protects the rights of bondholders during this transition. Additionally, it introduces a surplus land revitalization program and amends provisions governing bond issuance by BFA, including expanding definitions related to financing and increasing the board of directors from 14 to 16 members.

Key amendments include the redefinition of the "Authority" from the "health and education facilities authority" to the "business finance authority," as specified in RSA 195-E:2, I, and the repeal of RSA 195-D:4. The bill replaces references to HEFA with BFA in various statutes and establishes a new chapter, RSA 162-V, detailing the Surplus Land Revitalization Program. It outlines procedures for transferring surplus state-owned property to BFA, ensuring compliance with public benefit standards and the replenishment of the highway fund. The effective date for most provisions is set for July 1, 2026, while a specific section regarding the repeal of RSA 162-V:2 will take effect 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
CHAPTERED FINAL VERSION: 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