Senate Bill 30 Now Moves to the Full House for Approval
Concord—The future of tourism, job creation and development in the state’s North Country and other rural areas received a boost today when the Republican led House Finance committee unanimously approved a bill (SB 30) authorizing the Business Finance Authority to guarantee bonds for projects in unincorporated towns in New Hampshire.
While the legislation still must receive approval from the full House and the governor, Speaker Jasper called it a good step toward revitalizing the northern part of the state, “For those of us who campaigned on a platform of supporting policies that would create jobs and help our economy, this is an opportunity to fulfill that promise. This legislation lays the foundation for new economic development in Coos county, where unemployment rates are highest in the State, and paves the way for similar growth opportunities in other rural areas,” said Speaker Jasper.
The bill extends the local option for municipal economic development and revitalization districts to include unincorporated places in addition to cities and towns. Twenty-three of the twenty-five unincorporated places in the state are located in Coos county, with the other two located in Carroll and Grafton counties.
“There is no silver bullet when it comes to staving off economic hardship, but SB 30 gives the area a rock solid chance of reinventing itself with the state’s assistance, and bringing prosperity back to an economically challenged area of our state. I look forward to the day when the governor can sign this bill and economic development in our rural areas can move forward.,” added the speaker.
If the bill is passed and signed by the governor, it would allow projects in the unincorporated towns of the state to apply for bond guarantees through the normal state Business Finance Authority (BFA) process, which would also require a full review and approval by the Governor.
The bill will come before the full House for a vote on Wednesday, May 6, 2015.