Video & Transcript Research : 'LBA Briefing on Budget'

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NH

New Hampshire 2025 Regular Session

Finance Budget Briefing (06/10/2025)

Transcript Highlights:
  • It's being budgeted again as restricted liquor revenue in House Bill One.
  • the budget, there was no resolution on the budget, there was no resolution on that<01:20:08.480>
  • ...reduce from the governor's budget based on their revenue estimates.
  • And so this is a long briefing, but a briefing of all the changes that the Senate made to the House budget
  • And so this is a long briefing, but a briefing of all the changes that the Senate made to the House budget
Summary: The presentation was an LBA overview of Senate changes to the House-passed state budget, with Michael Kane explaining how Senate Finance updated revenue and spending estimates after April revenue figures and agency discussions. He said the Senate’s revenue outlook was higher than the House’s in some areas, but lower in others, especially video lottery terminal revenue, and that the biggest differences also came from changes to revenue splits between the general fund and education trust fund, lapse estimates, and several policy changes in House Bill 1 and House Bill 2. Kane highlighted several major revenue and policy differences: the Senate changed the business tax, tobacco tax, and real estate transfer tax splits; adjusted liquor revenue dedication; removed the House’s meals-and-rooms distribution cap; delayed the Lakes Region facility proceeds plan; altered the PECARD fund treatment; added a granite patron of the arts tax credit; and changed the treatment of unique funds and video lottery terminal revenue. On spending, he noted Senate changes to judicial, corrections, HHS, human rights commission, and other budgets, including additional settlement costs, higher lapse assumptions, and a different approach to Medicaid premium revenue and retirement savings. He also described Senate additions such as a nursing home bed fee, Hampstead Hospital transition funding, and changes to the YDC claims settlement fund. The presentation focused on comparing House and Senate surplus statements across fiscal years 2025 through 2027, including projected ending balances and rainy day fund transfers. Kane repeatedly emphasized that the numbers were still dependent on final revenues and lapse amounts, and that some balances would be carried forward and trued up later in the biennium. No committee vote or final action was described in the excerpt; it was an informational budget briefing and comparison of the two chambers’ proposals.