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Copy read on 2026-11-08 from the Internet Archive's copy of 2025-09-24, because the publisher's site refused Solon's reader. It is not the publisher's own copy. The archived copy it was read from
6:13-d Authority to Borrow; Certain Transportation Projects.
I. The state treasurer, as may be requested from time to time by the commissioner of the department of transportation, is hereby authorized to borrow upon the credit of the state not exceeding the sum of $200,000,000 and shall issue general obligation or revenue bonds, or both, in the name and on behalf of the state of New Hampshire in accordance with the provisions of RSA 6-A, to provide funds for the widening of Interstate 93 from Salem, New Hampshire to Manchester, New Hampshire. In addition, authorization is hereby granted to enter into the federal credit program known as the Transportation Infrastructure Finance and Innovation Act (TIFIA), 23 U.S.C. sections 601-609, including appropriate covenants and conditions necessary to secure favorable credit terms, including, without limitation, a pledge of revenue collected from adjustments under RSA 260:32-a for rates that exceed $.18 per gallon, less required "Apportionment A" distributions under RSA 235:23, I, on said revenues and to be used for the purposes set forth in RSA 260:32-b, II(a), III(a), and IV(a).
II. Payment of principal and interest on the bonds issued under paragraph I shall be paid when due from the highway funds collected and appropriated in accordance with RSA 260:32-a for rates that exceed $.18 per gallon and expended in accordance with RSA 260:32-b.
Source. 2014, 17:4, eff. July 1, 2015. 2015, 276:211, eff. July 1, 2015.
6:13-e Authority to Borrow; Certain Environmental Projects.
I. The state treasurer, as may be requested from time to time by the commissioner of the department of environmental services, is hereby authorized to borrow upon the credit of the state such sums as may be authorized by law from time to time to be borrowed under this section and may issue general obligation bonds in the name and on behalf of the state of New Hampshire for such authorized purposes and amounts in accordance with the provisions of RSA 6-A. The state treasurer is hereby further authorized to borrow all or any portion of amounts authorized to be borrowed under this section either as a loan from banks or other financial institutions, within or without the state, selected by the state treasurer or under the federal program established under the Water Infrastructure Finance and Innovation Act, 33 U.S.C. chapter 52, as amended, and to enter into agreements containing appropriate covenants and conditions as the state treasurer determines to be necessary or desirable to secure favorable credit terms from said banks or other financial institutions or under said program.
II. Notwithstanding the provisions of RSA 6-A:2, the maturity date of bonds issued pursuant to this section shall be not later than 30 years from the date of issue, as determined by the state treasurer; provided, that in determining the amount of bonds maturing later than 20 years from the date of issue, the state treasurer shall take into account the expected useful life of the projects being financed, as identified by the commissioner of the department of environmental services.
III. Payment of principal and interest on the borrowing authorized under paragraph I shall be paid when due from general fund revenue; provided, however, that pursuant to RSA 485-H:6, I, any borrowing under paragraph I shall be paid at or prior to maturity from any available funds derived from lawsuits against the manufacturers of PFAS, after reimbursement to the department of justice for legal expenses related to the litigation and the transfer of funds to the revenue stabilization reserve account pursuant to RSA 7:6-e. This paragraph shall not apply to any funds from judgments or settlements received by the state resulting from lawsuits against manufacturers of PFAS for impacts to public drinking water systems.
IV. To the extent any borrowing under paragraph I cannot be immediately redeemed or prepaid when such funds are received by the state, the funds shall be held in a nonlapsing reserve to be established by the state treasurer for the future payment of the borrowing in accordance with its redemption or prepayment provisions.
Source. 2020, 30:7, eff. July 23, 2020. 2024, 349:12, eff. Aug. 2, 2024.
The treasurer is authorized to issue registered bonds of $100 each, and multiples thereof, in exchange for coupon or other registered bonds of the state, respectively bearing the same rate of interest as the bonds received in exchange, and payable at the same time. If the payee of a registered bond duly assigns it to another party, it shall be the duty of the treasurer or a designated agent engaged under RSA 6:8-b to issue to the assignee thereof a new bond as aforesaid, upon request and surrender of the old bond thus assigned. The bonds so issued shall be signed by the treasurer, countersigned by the governor, and attested, under the seal of the state, by the secretary, subject to the provisions of RSA 93-A; provided, that if a transfer agent or similar agent is engaged under RSA 6:8-b, the bonds may be executed with the facsimile signatures of the treasurer, the governor and the secretary and the manual signature of a duly authorized officer of said agent. The treasurer or designated agent shall keep a record of the new bonds, showing the serial number, date, and amount of each, and to whom and when payable.
Source. 1877, 18:1, 2, 3. GL 15:14, 15. PS 16:7. PL 15:13. RL 22:13. RSA 6:14. 1983, 468:3, eff. June 30, 1983.
The state treasurer shall make an annual report showing the details of receipts and disbursements, together with the aggregate amount of funded debt of the state. It shall also show the details of receipts and disbursements of all trust funds and/or funds held by the treasurer as custodian. It shall contain a particular statement of all transactions affecting the funds belonging to or held in trust by the state, including new investments of any portion of the same made during the preceding year.
Source. 1915, 58:5. PL 15:16. RL 22:16. RSA 6:17. 1973, 144:4. 2008, 120:10, eff. Aug. 2, 2008.
6:18 Treasurer Relieved of Certain Accounting Duties.
I. The state treasurer is hereby relieved of all duties in respect to the keeping of records and accounts and of rendering reports except such as are necessary to account for all moneys received, held in custody, invested, and disbursed by the office of the treasurer, or by depositories of public funds acting as fiscal agents of the state.
II. Other provisions of law notwithstanding, the state treasurer is hereby relieved of maintaining any accounts by appropriation or division code and shall only maintain on the state's centralized financial system the fund to which the money belongs.
Source. RL 23:15. RSA 6:18. 1975, 169:1. 2008, 120:10, eff. Aug. 2, 2008.
When endorsing the state's guarantee on any bond or note issued by any political subdivision of the state, the state treasurer may cause such guarantee to be executed with an engraved or printed facsimile of the treasurer's signature in lieu of a signature. Such facsimile shall have the same effect as the manual signature of the state treasurer.
Source. 1970, 8:1. 2008, 120:10, eff. Aug. 2, 2008.
Upon the death, resignation, or removal of the treasurer, the governor, with the advice of the council, shall appoint some suitable person as commissioner, to take charge of the money, books, electronic records, and papers in the office, and to perform all the duties of treasurer until a treasurer is elected and qualified. Before entering upon the discharge of the duties of the treasurer, the commissioner shall give bond as provided for the treasurer in RSA 6:3.
Source. RS 12:7. CS 12:8. GS 14:8. GL 15:8. PS 16:14. PL 15:18. RL 22:18. 2008, 120:11, eff. Aug. 2, 2008.
I. The state treasurer shall appoint 2 deputies who shall hold office while the treasurer remains in office unless sooner removed. The treasurer may remove either deputy at pleasure, and the governor and council may remove either of the deputies for cause as they may remove the treasurer. A commissioner shall appoint deputies to hold office in like manner.
II. The treasurer shall designate one deputy as chief deputy who shall perform such duties as may be assigned by the treasurer. During the absence or disability of the treasurer, the chief deputy shall perform all duties of the office of treasurer. The other deputy shall perform such duties as may be assigned by the treasurer.
Source. 1891, 6:1. PS 16:15. PL 15:19. RL 22:19. RSA 6:21. 1983, 419:8. 1999, 137:3, eff. June 21, 1999.
Before entering upon the duties of their offices, the deputy treasurers shall be sworn and shall be bonded in accordance with RSA 93-B in the amount of $40,000 each with sufficient sureties, conditioned on the faithful discharge of the duties of their offices. The bonds shall be filed and preserved in the office of the secretary of state.
Source. 1891, 6:1. PS 16:16. 1903, 57:1. PL 15:20. RL 22:20. RSA 6:22. 1983, 419:9, eff. June 24, 1983.
The annual salary of the chief deputy state treasurer and deputy state treasurer shall be that prescribed by RSA 94:1-4 for deputy state treasurers.
Source. 1891, 6:4. PS 286:7. 1909, 81:1, 2. 1917, 220:3. 1919, 117:2. 1921, 118:1. PL 15:23. 1927, 133:2. RL 22:23. 1953, 265:1. RSA 6:24. 1983, 419:11, eff. June 24, 1983.
The legislative budget assistant shall audit the accounts of the state treasurer as provided in RSA 14:31, II.
Source. RL 22:26. 1950, 5, part 6:1, par. 12(XI). 1953, 121:2.
The state treasurer may appoint assistant state treasurers who shall hold office during good behavior. The governor and council may remove an assistant for cause as they may remove the treasurer.
Source. 1982, 42:51. 1993, 242:2, eff. July 1, 1993. 2025, 141:192, eff. July 1, 2025.
Before entering upon the duties of the office, an assistant state treasurer shall be sworn and shall give bond to the state in the sum of $40,000, with sufficient sureties to be approved by the governor and council, conditioned on the faithful discharge of the duties of the office. The bond shall be filed and preserved in the office of the secretary of state.
Source. 1982, 42:51. 1993, 242:2, eff. July 1, 1993.
Assistant state treasurers shall perform such duties as may be assigned to them by the state treasurer. During the absence or disability of the treasurer and deputy treasurer they shall perform all the duties of the office of state treasurer.
Source. 1982, 42:51. 1993, 242:2, eff. July 1, 1993.
The 10-year limitation does not apply to leases for state facility energy cost reduction projects pursuant to RSA 21-I:19-a through RSA 21-I:19-e, which shall be subject to the term limitation applicable to energy performance contracts, as defined therein. The treasurer may establish financing criteria to be met by any state agency or department before entering into leases for equipment. In no instance shall the term of such lease exceed 10 years. For purposes of this section "leases" shall include lease-purchase, sale and lease back, installment sale, or other similar agreements entered into by various agencies or departments to acquire such equipment from time to time for the agencies or departments; provided that funding for such equipment leases was specifically approved by the legislature in a budget. Payment obligations under any lease entered into under this section shall be subject to annual appropriation and shall not be treated as debt obligations of the state. Nothing in this chapter shall prohibit the treasurer from entering into financing agreements or executing any related documents, including any document creating or confirming any security interest retained by the seller or lessor of the equipment.
Source. 1996, 1:1. 2000, 276:8. 2008, 120:12, eff. Aug. 2, 2008.
Any information return for tax-exempt governmental obligations to be filed with the United States Internal Revenue Service, by or on behalf of the state or any state agency or department resulting from a lease entered into under RSA 6:35, shall first be submitted to the state treasurer for review and execution. This section shall not apply to any return filed for a state authority, political subdivision, or other separate body politic and corporate created by state law.
Source. 1996, 1:1, eff. April 12, 1996.
In this subdivision:
I. "Commission" means the New Hampshire college tuition savings plan advisory commission established in RSA 195-H.
II. "Eligible educational institution" means that which is defined in section 529 of the Internal Revenue Code, as amended.
III. "Trust fund" means the New Hampshire excellence in higher education endowment trust fund as established in this chapter.
Source. 1999, 328:1, eff. Oct. 14, 1999.
6:38 New Hampshire Excellence in Higher Education Endowment Trust Fund Established.
I. There is hereby established in the office of the treasurer the New Hampshire excellence in higher education endowment trust fund which shall be kept distinct and separate from all other funds. During the biennium ending June 30, 2027, annual assessments less any annual administrative costs received from the New Hampshire college tuition savings plan established under RSA 195-H, and less $6,000,000 per year of gross proceeds from assessments collected, which shall be allocated to the general fund, shall be credited to the trust fund to provide scholarships for the benefit of residents of the state pursuing programs of study at eligible educational institutions within the state.
I. There is hereby established in the office of the treasurer the New Hampshire excellence in higher education endowment trust fund which shall be kept distinct and separate from all other funds. Annual assessments less any annual administrative costs received from the New Hampshire college tuition savings plan established under RSA 195-H shall be credited to the trust fund to provide scholarships for the benefit of residents of the state pursuing programs of study at eligible educational institutions within the state.
II. The state treasurer shall be the trustee of the trust fund established in this chapter, and shall invest the trust fund in accordance with RSA 6:8. Any earnings on trust fund moneys shall be added to the trust fund.
III. All moneys in the trust fund shall be nonlapsing and shall be continually appropriated to the commission for purposes of providing education scholarships under this subdivision.
Source. 1999, 328:1, eff. Oct. 14, 1999. 2015, 237:2, eff. Sept. 11, 2015. 2025, 141:279, eff. July 1, 2025; 141:280, eff. July 1, 2027.
I. The trust fund shall be administered by the New Hampshire college tuition savings plan advisory commission established in RSA 195-H:2.
II. The commission shall have the authority to institute promotional programs and to solicit and receive gifts or donations of any kind for the purpose of supporting educational scholarships within the trust fund. Notwithstanding any provision of law to the contrary, the commission may accept gifts to the trust fund including, but not limited to, cash gifts and real or personal property, without the approval of the governor and council.
III. All gifts, grants, and donations of any kind shall be credited to the trust fund.
IV. The commission may enter into agreements with existing departments or agencies, as it deems necessary, to administer the scholarship application, qualification, and award process.
V. No more than one percent of the total amount of scholarships awarded from the trust fund in any fiscal year shall be used for administrative expenses, except upon approval of the commission.
Source. 1999, 328:1, eff. Oct. 14, 1999.
The commission shall adopt rules, pursuant to RSA 541-A, relative to:
I. Establishing minimum qualifications of scholarship applicants.
II. Instituting a scholarship application process, which includes but is not limited to requiring that all applicants complete a formal scholarship application on appropriate forms to be developed by the commission and time frames for the application process.
III. Procedures for awarding and disbursing scholarships.
IV. Procedures for determining the amount of funds available to provide annual scholarships through the trust fund.
V. Any other issue which the commission deems relevant to the implementation and administration of the scholarship program.
VI. Requiring disclosure regarding any scholarship funds, or portion thereof, which are or may be returned to the trust fund.
Source. 1999, 328:1, eff. Oct. 14, 1999. 2015, 237:3, eff. Sept. 11, 2015.
I. The commission shall determine all scholarship awards in a fair and equitable manner to eligible residents of this state who have satisfactorily met the minimum qualifications established by the commission. Scholarships shall be granted on the basis of merit and need.
II. All scholarships awarded by the commission under this subdivision shall be for the period of one academic year or equivalent and in specified amounts of not less than $100 per fiscal year within the limits established by the commission.
III. No scholarship shall be in excess of the tuition assessed to the student for the academic period in which the scholarship is received.
IV. No person to whom a scholarship is awarded shall be restricted as to the choice of institutions or programs within the state provided the institution selected by the student is an eligible educational institution. Scholarships may be used at public or private institutions by full-time or part-time students enrolled in undergraduate or graduate level programs.
Source. 1999, 328:1, eff. Oct. 14, 1999. 2015, 237:4, eff. Sept. 11, 2015.
By April 1 of each year, the commission shall determine the funding level available for scholarships for the next academic year and shall certify such amount to the state treasurer.
Source. 1999, 328:1, eff. Oct. 14, 1999. 2015, 237:5, eff. Sept. 11, 2015.
By November 1 of each year, the commission shall prepare a report regarding the status of the trust fund. Such report shall be submitted to the president of the senate, the speaker of the house, the governor, and the state library, and shall be posted to the state government Internet site.
Source. 1999, 328:1. 2008, 120:13, eff. Aug. 2, 2008.
I. All systems, authorities, and organizations established by the state which are not part of the executive, legislative, or judicial branches shall be considered component units of the state government. For the purpose of this section, the following shall be considered component units:
(a) Community college system of New Hampshire.
(b) Community development finance authority.
(c) Judicial retirement plan.
(d) Land and community heritage authority.
(e) Business finance authority.
(f) Health and educational facilities authority.
(g) Housing finance authority.
(h) Municipal bond bank.
(i) Pease development authority.
(j) Retirement system of New Hampshire.
(k) University system of New Hampshire.
II. All component units shall report to the state treasurer, in a manner determined by the treasurer, on a quarterly basis. These quarterly reports shall include interim financial information, performance metrics, and all relevant information on the component unit's activities. The state treasurer shall provide the governor, president of the senate, and speaker of the house of representatives the compiled quarterly reports on an ongoing basis.
Source. 2019, 346:310, eff. July 1, 2019.
I. The state treasurer shall, with the assistance of the advisory committee created under RSA 6:47, establish and operate a public deposit investment pool, for the purpose of investing funds of the state, and funds under the custody of governmental units, pooled risk management programs established pursuant to RSA 5-B, agencies, authorities, commissions, boards, political subdivisions and all other public units within or instrumentalities of the state.
II. The public deposit investment pool shall be operated under contract with a private investment advisor, approved by the state treasurer and advisory committee. The state treasurer and advisory committee shall evaluate investment advisors by requesting proposals from advisors and reviewing such proposals based on criteria established by the state treasurer and advisory committee, subject to a competitive bidding process. Such contract shall be submitted to the governor and executive council for final approval.
II-a. The investment advisor selected by the state treasurer and advisory committee shall strive to place funds ordinarily held by the public deposit investment pool in bank deposits with state or federally chartered banks that are eligible to accept deposits of public funds under RSA 6:8, I and 6:8, I-a.
II-b. The investment advisor selected by the state treasurer and advisory committee shall achieve and maintain the highest attainable rating for stable value local government investment pools. The credit rating is an indication of the ability to preserve principal as determined by a nationally recognized statistical ratings organization.
III. The state treasurer shall make available to prospective depositors detailed information on the public deposit investment pool, similar to that information generally contained in a securities prospectus. The state treasurer shall also ensure that periodic statements of accounts and reports on holdings are provided to pool participants relative to their proportionate share of the pool.
IV. The state treasurer shall cause an independent audit of the pool to be conducted on an annual basis. The auditor shall be selected by the advisory committee.
V. The state treasurer shall charge the public deposit investment pool any actual costs incurred by the department for the operation of the pool as well as any expenses of department personnel assisting in the operation of the pool. The private investment advisor retained under paragraph II shall be responsible for processing any invoice submitted for the actual costs incurred by the department and the expenses of department personnel under this paragraph.
Source. 2023, 36:1, eff. July 16, 2023. 2024, 368:6, 7, eff. Aug. 23, 2024. 2025, 137:1, eff. Aug. 24, 2025.
The state treasurer may, with the approval of the advisory committee, adopt rules, pursuant to RSA 541-A, relative to:
I. Formulation of a disclosure policy and materials to be included in a prospectus and in periodic reports to participants, including:
(a) A written statement of policy and pool objectives;
(b) Investment objectives designed to meet the pool objectives;
(c) A description of eligible investment instruments;
(d) The credit standard of investment;
(e) Allowable maturity range of investments;
(f) The limits of portfolio concentration permitted for each type of security;
(g) Safekeeping practices and disclosure of percentage of funds that are collateralized;
(h) Definition of pool participant eligibility;
(i) Disclosure of size of accounts, size of transactions and administrative costs;
(j) Disclosure of the amount of funds invested or deposited within the state of New Hampshire; and
(k) Instructions for establishing and utilizing accounts.
II. Investment and administrative policies, practices, and restrictions, including the frequency and method used for calculating valuation, yields, and earnings.
III. Requests for proposals from investment managers and criteria for reviewing such proposals.
Source. 2023, 36:1, eff. July 16, 2023. 2024, 368:8, eff. Aug. 23, 2024.
6:47 Public Deposit Investment Pool Advisory Committee.
I. There is established an advisory committee on the public deposit investment pool, consisting of the following members:
(a) The state treasurer.
(b) The commissioner of the department of revenue administration or designee.
(c) Two members appointed by the New Hampshire Government Finance Officers Association.
(d) Two members appointed by the New Hampshire Bankers Association.
(e) One county finance officer appointed by the New Hampshire Association of Counties.
(f) One city finance officer, appointed by the New Hampshire Municipal Association.
(g) One school district finance officer, appointed by the New Hampshire School Boards Association.
(h) One member appointed by the Municipal Managers Association of New Hampshire.
II. The advisory committee shall assist and advise the treasurer on the establishment and operation of the investment pool, including:
(a) Formulating the disclosure policy.
(b) Determining eligible investment vehicles.
(c) Establishing performance standards.
(d) Monitoring the outflow of funds from financial institutions.
(e) Determining compliance with written investment policies.
(f) Conducting periodic reviews of the public deposit investment pool.
Source. 2023, 36:1, eff. July 16, 2023. 2025, 137:2, eff. Aug. 24, 2025.