RSA 6-C Debt Management
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Change 1
6-C:2 Affordable Debt Limit.
I. The general court shall not authorize any additional net tax supported debt of the state if the projected annual debt service, as certified by the treasurer and filed with the legislative budget assistant, on such additional net tax supported debt, when added to the prior projected and actual annual debt service on any previously authorized net tax supported debt, both issued and unissued, exceeds 10 percent of the unrestricted general fund revenues for the previous fiscal year. II. The general court may only exceed the ceiling in paragraph I by a 3/5 vote of each house present and voting. Such 3/5 vote shall only apply to votes on final passage and adoption of committee of conference reports. Source. 1991, 335:1. 1992, 289:62, eff. June 17, 1992.
6-C:2 Affordable Debt Limit.
I. The general court shall not authorize any additional net tax supported debt of the state if the projected annual debt service, as certified by the treasurer and filed with the legislative budget assistant, on such additional net tax supported debt, when added to the prior projected and actual annual debt service on any previously authorized net tax supported debt, both issued and unissued, exceeds 10 percent of the unrestricted general fund revenues for the previous fiscal year. II. The general court may only exceed the ceiling in paragraph I by a 3/5 vote of each house present and voting. Such 3/5 vote shall only apply to votes on final passage and adoption of committee of conference reports. Source. 1991, 335:1. 1992, 289:62, eff. June 17, 1992.
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