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New Hampshire Senate Passes SB 247, to Establish a “Sunny-Day” Fund

March 21, 2019

March 21, 2019

Contact Name: Sara Persechino                                      

Phone: (603) 271-3479                                                                            

Email: Sara.Persechino@leg.state.nh.us

 

CONCORD—Today, the New Hampshire Senate passed SB 247-FN, establishing a sunny-day fund in the department of business and economic affairs. Ten million in revenue in excess of the revenue stabilization reserve account cap shall be credited to the sunny day fund, for use over the next 5 years.

 

Senator Jeanne Dietsch (D-Peterborough), prime sponsor of SB 247, released the following statement after the vote:

 

“By funding innovation grants and university research grants the Sunny-Day Fund would increase innovation, competitiveness, productivity, and workforce attraction. My company was able to provide its own matches for such grants because I had earlier, successful ventures. But limiting our state to entrepreneurs on their second or third venture severely restricts our talent pool. Now, while the economy is strong, is the time to seed investment that will make it less likely we need to tap the rainy-day fund in a future downturn.”

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