New Hampshire Revised Statutes 6-C:2 – Affordable Debt Limit
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I. The general court shall not authorize any additional net tax supported debt of the state if the projected annual debt service, as certified by the treasurer and filed with the legislative budget assistant, on such additional net tax supported debt, when added to the prior projected and actual annual debt service on any previously authorized net tax supported debt, both issued and unissued, exceeds 10 percent of the unrestricted general fund revenues for the previous fiscal year.
II. The general court may only exceed the ceiling in paragraph I by a
3/5 vote of each house present and voting. Such
3/5 vote shall only apply to votes on final passage and adoption of committee of conference reports.
II. The general court may only exceed the ceiling in paragraph I by a
Terms Used In New Hampshire Revised Statutes 6-C:2
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- 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
3/5 vote of each house present and voting. Such
3/5 vote shall only apply to votes on final passage and adoption of committee of conference reports.