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Counties and municipal groups warn proposed SHIELD Act would sharply curtail local borrowing
Summary
Representative McFarland’s bill would limit municipal, county and school district bonding and require voter approval except in narrow emergencies. County administrators and the New Hampshire Municipal Association said the changes would be unworkable, could jeopardize compliance with federal/state mandates, and shift costs to taxpayers.
Representative McFarland introduced House Bill 1427, the SHIELD Act, arguing the bill would encourage fiscal restraint and reserve borrowing for emergencies or voter-approved major projects. He told the committee the bill includes reasonable exceptions for emergencies, public safety and essential infrastructure and a transition period for communities to adjust their capital plans.
County and municipal witnesses strongly opposed the bill. Cheshire County officials and the New Hampshire Municipal…
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