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HB 1495 · 2026 · House · Education Funding Committee

School borrowing against anticipated funds

AI-generated

allowing a reimbursement anticipation note to be used as collateral in certain circumstances.

Allows school districts to borrow funds via a reimbursement anticipation note and categorize them as revenue, provided the funds are used only for the purpose for which they were anticipated.AI-generated

Status

Signed into law · June 22, 2026
  1. ✓Introduced
  2. ✓House
  3. ✓Senate
  4. ✓Governor
  5. ✓Law

Analysis

This bill allows school districts to borrow and categorize funds as revenue, so long as they are only used for the same purpose as anticipated funds.

From the bill's official ANALYSIS section.

In the bill's words

Quoted verbatim from the bill as enacted. Passages chosen from the operative text.Computed by this site

“Notwithstanding any other provision of law to the contrary, a school district or a city with a dependent school district may incur debt in anticipation of reimbursement under RSA 186-C:18 and under RSA 198:42.”
RSA 198:20-d
“The governing body, after notice and public hearing, may elect to borrow such funds and to recognize the proceeds of the borrowing as revenue for property tax rate setting purposes by providing written notification to the commissioner of the department of revenue administration stating the specific amount of borrowing to be recognized as revenue.”
RSA 198:20-d
“Any borrowing under this section shall be exempt from the provisions of RSA 33, relative to debt limits. 133:2 Effective Date.”
RSA 198:20-d

Official record

Bill page — docket & status

gc.nh.gov · the authoritative source

Sponsors

Rep. Rick LaddRPrimeChair· Education Funding
  • Rep. Walter SpilsburyRVice Chair· Education Funding
  • Rep. Hope DamonDDeputy Ranking Member· Education Funding
  • Sen. Daniel InnisRVice Chair· Education Finance
  • Sen. Victoria SullivanRVice Chair· Education

Also: Rep. Daniel Popovici-MullerR, Rep. Raymond PeeplesR

Public testimony

6 signed in online · 3 wrote testimony

50% support50% oppose0% neutral

In their wordsVerbatim, exactly as submitted

“Providing districts with short-term financial flexibility can help maintain continuity of educational services, but safeguards are needed to prevent long-term fiscal instability or inequitable impacts on students.”
— Hannah Meiselman, Machestersupports
“Bond Anticipation Notes (BAN) are OK for collateral. Revenue or Reimbursement Anticipation Notes (RAN) run risk of default. Believe it or not, some entities don't pay up, including government.”
— Daniel Richardson, Nashuaopposes
“OPPOSE HB 1495 because it encourages borrowing against expected reimbursements instead of ensuring timely, adequate special education funding from the state, shifting financial risk to local districts and taxpayers.”
— Kathleen Malsbenden, Newmarketopposes

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

Read the testimony · as of Aug 12, 2026

Votes

yeanay
Starting text: Bill as introduced
  • Feb 17, 2026HouseCommittee report· regular calendar: Ought to Pass10–8
    Overall
    56% yea
  • Mar 5, 2026HouseRoll callOught to PassAdopted185–162How they voted
    Overall
    53% yea
    Party-line vote
    Republicans
    185–398% yea
    Democrats
    0–1590% yea
  • Apr 23, 2026SenateCommittee report: Ought to Pass4–0
    Overall
    100% yea
  • Apr 23, 2026SenateVoice voteOught to Passadopted
  • May 21, 2026SenateVoice voteEnrolledadopted

Hearings and debates

  • Jan 27, 2026Public hearingHouse Education Funding32:11–57:5325m 42slocated in the stream transcript==ROOM CHANGE== Public Hearing
  • Feb 17, 2026Public hearingHouse Education FundingWatchnamed in a list of bills, not taken up — opens the full streamMajority Committee Report: Ought to Pass — roll call; Executive Session
  • Mar 5, 2026Floor debateHouse floor1:17:29–1:22:004m 31slocated in the stream transcriptOught to Pass — adopted, roll call 185-162
  • Apr 1, 2026Public hearingSenate Education Finance37:23–38:311m 8slocated in the stream transcriptHearing
  • Apr 23, 2026Floor debateSenate floorWatchnot located in the transcript — opens the full streamCommittee Report: Ought to Pass; Ought to Pass — adopted, voice vote
  • May 21, 2026Floor debateSenate floorWatchnot located in the transcript — opens the full streamEnrolled Adopted — voice vote

Timestamps locate where this bill is taken up in the chamber's YouTube stream.

Legislative history

  1. Jan 7, 2026HouseIntroduced 01/07/2026 and referred to Education Funding HJ 1 P. 22
  2. Jan 27, 2026House==ROOM CHANGE== Public Hearing: 01/27/2026 10:00 am GP 234
  3. Feb 17, 2026HouseExecutive Session: 02/17/2026 10:00 am GP 232
  4. Feb 17, 2026HouseMajority Committee Report: Ought to Pass 02/17/2026 (Vote 10-8; RC) HC 9 P. 34
  5. Feb 20, 2026HouseMinority Committee Report: Inexpedient to Legislate
  6. Mar 5, 2026HouseOught to Pass: MA RC 185-162 03/05/2026 HJ 6 P. 53
  7. Mar 5, 2026SenIntroduced 03/05/2026 and Referred to Education Finance; SJ 6
  8. Mar 18, 2026Sen==CANCELLED== Hearing: 03/18/2026, Room 100, SH, 01:00 pm; SC 10
  9. Apr 1, 2026SenHearing: 04/01/2026, Room 100, SH, 01:10 pm; SC 12
  10. Apr 23, 2026Sen: Ought to Pass, 04/23/2026; Vote 4-0; CC; SC 15
  11. Apr 23, 2026SenOught to Pass: MA, VV; OT3rdg; 04/23/2026; SJ 10
  12. May 21, 2026SenEnrolled Adopted, VV, (In recess 05/21/2026); SJ 14
  13. May 21, 2026HouseEnrolled (in recess of) 05/21/2026 HJ 14 P. 34
  14. Jun 12, 2026HouseSigned by Governor Ayotte 06/12/2026; Chapter 133; eff. 06/12/2026

Coverage

No reporting linked yet.

Documents (PDF)

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