New Hampshire Revised Statutes 198:39 – Education Trust Fund Created and Invested
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I. The state treasurer shall establish an education trust fund in the treasury. Moneys in such fund shall not be used for any purpose other than:
(a) To distribute adequate education grants to municipalities’ school districts pursuant to N.H. Rev. Stat. § 198:42.
(b) To distribute grants to municipalities school districts and to approved chartered public schools pursuant to N.H. Rev. Stat. § 194-B:11.
(c) To distribute kindergarten grants to municipalities’ and school districts pursuant to N.H. Rev. Stat. § 198:48-c.
(d) To provide low and moderate income homeowners property tax relief under N.H. Rev. Stat. § 198:56-198:61.
(e) To distribute funds to scholarship organizations approved under RSA 77-G, that administer and implement RSA 194-F.
(f) To distribute phase-out grants to school districts under N.H. Rev. Stat. § 194-F:10.
(g) To fund costs necessary to provide the statewide assessment program required under RSA 193-C.
(h) To fund department of education operating costs for a state student data collection and reporting system, within budgeted appropriations.
(i) To fund department of education costs for administering programs funded by the education trust fund, within budgeted appropriations, plus any additional funding authorized pursuant to paragraph III.
(j) To distribute school building aid to school districts pursuant to N.H. Rev. Stat. § 198:15-b.
(k) To distribute tuition and transportation funds to school districts for students attending career and technical education programs pursuant to N.H. Rev. Stat. § 188-E:9.
(l) To distribute special education aid to school districts pursuant to N.H. Rev. Stat. § 186-C:18.
(m) To distribute payments to education service providers on behalf of school districts for children with disabilities in certain court ordered placements or placements for an episode of treatment pursuant to N.H. Rev. Stat. § 186-C:19-b.
(n) To distribute grants for leased space to approved chartered public schools pursuant to N.H. Rev. Stat. § 198:15-hh.
II. The state treasurer shall deposit into the education trust fund immediately upon receipt:
(a) Funds certified to the state treasurer by the commissioner of revenue administration pursuant to N.H. Rev. Stat. § 77-A:20-a, relative to business profits taxes.
(b) Funds certified to the state treasurer by the commissioner of revenue administration pursuant to N.H. Rev. Stat. § 77-E:14, relative to business enterprise tax.
(c) Funds collected and paid over to the state treasurer by the commissioner of revenue administration pursuant to N.H. Rev. Stat. § 78-A:26, II, relative to the tax on motor vehicle rentals.
(d) Funds collected and paid over to the state treasurer by the department of revenue administration pursuant to N.H. Rev. Stat. § 78:24, relative to tobacco taxes.
(e) Funds certified to the state treasurer by the commissioner of revenue administration pursuant to N.H. Rev. Stat. § 78-B:13, relative to real estate transfer taxes.
(f) Funds collected and paid over to the state treasurer by the department of revenue administration pursuant to N.H. Rev. Stat. § 83-F:7, I, relative to the utility property tax.
(g) All moneys due the fund in accordance with N.H. Rev. Stat. § 284:21-j, relative to sweepstakes and the lottery.
(h) Tobacco settlement funds in the amount of $40,000,000 or, for any year in which the total tobacco settlement funds received by the state is less than $40,000,000, the total amount of tobacco settlement funds received by the state.
(i) The school portion of any revenue sharing funds distributed pursuant to N.H. Rev. Stat. § 31-A:4 which were apportioned to school districts in the property tax rate calculations in 1998.
(j) Funds collected and paid over to the state treasurer by the lottery commission pursuant to N.H. Rev. Stat. § 284:44, N.H. Rev. Stat. § 284:47, and RSA 287-I.
(k) Any other moneys appropriated from the general fund.
III. If required expenditures to administer programs funded by the education trust fund, pursuant to paragraph I, exceed amounts appropriated, the commissioner of education may request the fiscal committee of the general court authorize additional funding. Amounts requested under this paragraph shall be a charge to the education trust fund. For funds requested and approved, the governor is authorized to draw a warrant from any money in the treasury not otherwise appropriated.
IV. The education trust fund shall be nonlapsing. The state treasurer shall invest that part of the fund which is not needed for immediate distribution in short-term interest-bearing investments. The income from these investments shall be returned to the fund.
(a) To distribute adequate education grants to municipalities’ school districts pursuant to N.H. Rev. Stat. § 198:42.
Terms Used In New Hampshire Revised Statutes 198:39
- real estate: shall include lands, tenements, and hereditaments, and all rights thereto and interests therein. See New Hampshire Revised Statutes 21:21
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
(b) To distribute grants to municipalities school districts and to approved chartered public schools pursuant to N.H. Rev. Stat. § 194-B:11.
(c) To distribute kindergarten grants to municipalities’ and school districts pursuant to N.H. Rev. Stat. § 198:48-c.
(d) To provide low and moderate income homeowners property tax relief under N.H. Rev. Stat. § 198:56-198:61.
(e) To distribute funds to scholarship organizations approved under RSA 77-G, that administer and implement RSA 194-F.
(f) To distribute phase-out grants to school districts under N.H. Rev. Stat. § 194-F:10.
(g) To fund costs necessary to provide the statewide assessment program required under RSA 193-C.
(h) To fund department of education operating costs for a state student data collection and reporting system, within budgeted appropriations.
(i) To fund department of education costs for administering programs funded by the education trust fund, within budgeted appropriations, plus any additional funding authorized pursuant to paragraph III.
(j) To distribute school building aid to school districts pursuant to N.H. Rev. Stat. § 198:15-b.
(k) To distribute tuition and transportation funds to school districts for students attending career and technical education programs pursuant to N.H. Rev. Stat. § 188-E:9.
(l) To distribute special education aid to school districts pursuant to N.H. Rev. Stat. § 186-C:18.
(m) To distribute payments to education service providers on behalf of school districts for children with disabilities in certain court ordered placements or placements for an episode of treatment pursuant to N.H. Rev. Stat. § 186-C:19-b.
(n) To distribute grants for leased space to approved chartered public schools pursuant to N.H. Rev. Stat. § 198:15-hh.
II. The state treasurer shall deposit into the education trust fund immediately upon receipt:
(a) Funds certified to the state treasurer by the commissioner of revenue administration pursuant to N.H. Rev. Stat. § 77-A:20-a, relative to business profits taxes.
(b) Funds certified to the state treasurer by the commissioner of revenue administration pursuant to N.H. Rev. Stat. § 77-E:14, relative to business enterprise tax.
(c) Funds collected and paid over to the state treasurer by the commissioner of revenue administration pursuant to N.H. Rev. Stat. § 78-A:26, II, relative to the tax on motor vehicle rentals.
(d) Funds collected and paid over to the state treasurer by the department of revenue administration pursuant to N.H. Rev. Stat. § 78:24, relative to tobacco taxes.
(e) Funds certified to the state treasurer by the commissioner of revenue administration pursuant to N.H. Rev. Stat. § 78-B:13, relative to real estate transfer taxes.
(f) Funds collected and paid over to the state treasurer by the department of revenue administration pursuant to N.H. Rev. Stat. § 83-F:7, I, relative to the utility property tax.
(g) All moneys due the fund in accordance with N.H. Rev. Stat. § 284:21-j, relative to sweepstakes and the lottery.
(h) Tobacco settlement funds in the amount of $40,000,000 or, for any year in which the total tobacco settlement funds received by the state is less than $40,000,000, the total amount of tobacco settlement funds received by the state.
(i) The school portion of any revenue sharing funds distributed pursuant to N.H. Rev. Stat. § 31-A:4 which were apportioned to school districts in the property tax rate calculations in 1998.
(j) Funds collected and paid over to the state treasurer by the lottery commission pursuant to N.H. Rev. Stat. § 284:44, N.H. Rev. Stat. § 284:47, and RSA 287-I.
(k) Any other moneys appropriated from the general fund.
III. If required expenditures to administer programs funded by the education trust fund, pursuant to paragraph I, exceed amounts appropriated, the commissioner of education may request the fiscal committee of the general court authorize additional funding. Amounts requested under this paragraph shall be a charge to the education trust fund. For funds requested and approved, the governor is authorized to draw a warrant from any money in the treasury not otherwise appropriated.
IV. The education trust fund shall be nonlapsing. The state treasurer shall invest that part of the fund which is not needed for immediate distribution in short-term interest-bearing investments. The income from these investments shall be returned to the fund.