Subcommittee on Housing recommends SB 86 as amended and SB 279 for passage

The Senate subcommittee on housing recommended an amended Senate Bill 86 and recommended Senate Bill 279 as ought to pass.

Senator Reardon spoke to an amendment to SB 86 that would raise a cap on the state'backed guarantee related to New Hampshire Housing'financing. He described two changes in the amendment: a statutory cap on the state's guarantee liability and an increase in the cap used by New Hampshire Housing from $100,000,000 to $300,000,000 in the bill text. Reardon said the existing debt for which New Hampshire Housing carries liability is $460,000,000 and that the guarantee is split half state and half federal; he added that on New Hampshire Housing'books the liability currently shows up as about $10,000,000 and that New Hampshire Housing reported 0% losses historically on using its guarantee.

Members present voiced support for the amendment; the subcommittee moved and seconded the amendment and then recommended SB 86 as amended. The chair noted a possible future discussion of a sunset review for the program (five years was mentioned as a suggestion).

The committee also considered Senate Bill 279, described as an addition to the Housing Champions Fund. Senators on the panel said the bill builds on an existing program and acknowledged demand for much larger funding but expressed willingness to treat the current appropriation as a pilot. The subcommittee moved and seconded a recommendation that SB 279 ought to pass.

No committee-level opposition was recorded during the subcommittee's motions. Formal roll-call tallies were not recorded in the transcript excerpt provided; the chair called for assent and members responded "aye."