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HB 694 · 2025 · House · Executive Departments and Administration Committee

Fair market value for state agency leases

AI-generated

requiring leases of land, buildings, or space by state agencies to be at fair market value.

Requires state agencies to lease land, buildings, or space at a fair market rate unless the property owner agrees to a sub-market rate.AI-generated

Status

Signed into law · July 8, 2025
  1. ✓Introduced
  2. ✓House
  3. ✓Senate
  4. ✓Governor
  5. ✓Law

Analysis

This bill requires that property leased by state agencies be leased at a rate which would be considered a fair market rate, unless a sub-market rate is agreed to by the property owner.

From the bill's official ANALYSIS section.

Official record

Bill page — docket & status

gc.nh.gov · the authoritative source

Sponsors

Rep. Judy AronRPrimeChair· Environment and Agriculture
  • Rep. John CloutierDRanking Member· Public Works and Highways
  • Rep. Margaret DryeRClerk· Education Policy and Administration
  • Rep. Dale GirardRVice Chair· Special Committee on COVID Response Efficacy
  • Rep. Steven SmithRVice Chair· Rules
  • Rep. Brian SullivanDSenior Democratic Advisor

Public testimony

17 signed in online · 2 wrote testimony

94% support0% oppose6% neutral

In their wordsVerbatim, exactly as submitted

“I support this bill because the state should not be allowed to rob our local businesses of fair market value for their properties. Not providing fair market value is exactly that – – robbery. It would be criminal to Rob your constituents.”
— Cherie Hagen, Derrysupports
“Bill should read "... at least fair market value ...". Also amend to include acceptable methods to determine fair market value and to document sources for that determination in lease.”
— Daniel Richardson, Nashuaneutral

Verbatim excerpts of submitted testimony, quoted from the testimony tool.

Read the testimony · as of Aug 12, 2026

Hearings

  • 2025-02-1910:00 amHouse Executive Departments and AdministrationLOB 306-308Public hearing
  • 2025-03-101:30 pmHouse Executive Departments and AdministrationLOB 104Public hearing
  • 2025-04-109:30 amSenate CommerceSH 100Public hearing

Legislative history

  1. Jan 9, 2025HouseIntroduced (in recess of) 01/09/2025 and referred to Executive Departments and Administration HJ 3 P. 23
  2. Feb 19, 2025HousePublic Hearing: 02/19/2025 10:00 am LOB 306-308
  3. Mar 10, 2025HouseSubcommittee Work Session: 03/10/2025 01:30 pm LOB 104
  4. Mar 10, 2025HouseExecutive Session: 03/10/2025 01:30 pm LOB 104
  5. Mar 12, 2025House: Ought to Pass with Amendment # 2025-0889h 03/12/2025 (Vote 16-0; CC) HC 17 P. 18
  6. Mar 26, 2025HouseAmendment # 2025-0889h: AA VV 03/26/2025 HJ 10 P. 31
  7. Mar 26, 2025HouseOught to Pass with Amendment 2025-0889h: MA VV 03/26/2025 HJ 10 P. 32
  8. Mar 27, 2025SenIntroduced 03/27/2025 and Referred to Commerce; SJ 10
  9. Apr 10, 2025SenHearing: 04/10/2025, Room 100, SH, 10:00 am; SC 16
  10. May 8, 2025Sen: Ought to Pass, 05/08/2025; Vote 6-0; CC; SC 20
  11. May 8, 2025SenOught to Pass: MA, VV; OT3rdg; 05/08/2025; SJ 12
  12. Jun 12, 2025SenEnrolled Adopted, VV, (In recess 06/12/2025); SJ 17
  13. Jun 12, 2025HouseEnrolled (in recess of) 06/12/2025 HJ 17 P. 26
  14. Jul 7, 2025HouseSigned by Governor Ayotte 07/07/2025; Chapter 152; eff.09/05/2025

Coverage

No reporting linked yet.

Documents (PDF)

Bill text & amendments link direct to gc.nh.gov; committee reports stream from the state record.