New Hampshire HB1066 amends municipal finance laws to clarify lease agreements and voting requirements.

New Hampshire HB1066 modifies municipal finance laws to provide clearer definitions and voting requirements for lease agreements. The bill amends RSA 33:1 to define "lease" more comprehensively, including lease-purchase, sale and lease back, and installment sale agreements. It also specifies that leases with nonappropriation clauses are not treated as debt. The bill requires a simple majority vote for leases up to $500,000, while leases over $500,000 must undergo a public hearing and require a 2/3 or 3/5 majority vote, depending on the municipality's charter.

New Hampshire HB1066 amends municipal finance laws to clarify lease agreements and voting requirements.

New Hampshire HB1066 modifies municipal finance laws to provide clearer definitions and voting requirements for lease agreements. The bill amends RSA 33:1 to define "lease" more comprehensively, including lease-purchase, sale and lease back, and installment sale agreements. It also specifies that leases with nonappropriation clauses are not treated as debt. The bill requires a simple majority vote for leases up to $500,000, while leases over $500,000 must undergo a public hearing and require a 2/3 or 3/5 majority vote, depending on the municipality's charter.