Allows reimbursement anticipation notes to be used as collateral for borrowing in New Hampshire.

New Hampshire HB1495 amends RSA 198:20-d to allow school districts or cities with dependent school districts to use reimbursement anticipation notes as collateral for borrowing. The proceeds from such borrowing must be used for the same purpose as the anticipated funds. This borrowing is exempt from debt limits under RSA 33. The governing body must provide written notification to the commissioner of the department of revenue administration regarding the specific amount of borrowing to be recognized as revenue.

Allows reimbursement anticipation notes to be used as collateral for borrowing in New Hampshire.

New Hampshire HB1495 amends RSA 198:20-d to allow school districts or cities with dependent school districts to use reimbursement anticipation notes as collateral for borrowing. The proceeds from such borrowing must be used for the same purpose as the anticipated funds. This borrowing is exempt from debt limits under RSA 33. The governing body must provide written notification to the commissioner of the department of revenue administration regarding the specific amount of borrowing to be recognized as revenue.