New Hampshire HB197 proposes the state to pay 7.5% of retirement contributions for teachers, firefighters, and local police.
New Hampshire HB197 amends the state's retirement system to have the state cover 7.5% of the retirement contributions for teachers, firefighters, and local police, starting from fiscal year 2026. This change aims to alleviate the property tax burden on cities and towns, providing property tax relief and enhancing public education and safety. The state's contribution applies to both normal and accrued liability contributions for these groups.
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