This bill amends RSA 5-B:5, I by adding new provisions regarding special assessment requests from pooled risk management programs. Specifically, it introduces two new subparagraphs: (h), which clarifies that special assessments are not mandated by statute, and (i), which establishes that if a pooled risk management program's agreement allows for special assessments, political subdivisions will have a 36-month period from the date of the invoice to pay these assessments, with payments made in equal amounts over that time. The bill is set to take effect 60 days after its passage.

The fiscal impact of this bill is noted to be indeterminable, particularly concerning the potential financial strain it may place on pooled risk management programs. Delaying payment for special assessments could jeopardize the financial stability of these programs, potentially leading to insolvency and unpaid claims. The Department of State has indicated that such delays could incur additional costs for legal and accounting services, estimated at a minimum of $100,000. The New Hampshire Municipal Association has expressed concerns about the lack of clarity regarding the definition of "special assessment," which complicates the assessment of the bill's overall fiscal impact.

Statutes affected:
Introduced: 5-B:5
SB605 text: 5-B:5