HB 1332

AN ACT requiring an audit of New Hampshire housing finance authority programs and making an appropriation therefor.

SPONSORS: Rep. Sullivan, Carr 2; Rep. Balboni, Hills 27; Rep. Weyler, Rock 18; Rep. Marshall Quandt, Rock 20; Rep. Gilman, Graf 1; Sen. Boyce, Dist 4; Sen. Roberge, Dist 9

This bill requires the legislative budget assistant to complete an audit of the New Hampshire housing finance authority. The bill appropriates $1 for the cost of the audit.

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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

AN ACT requiring an audit of New Hampshire housing finance authority programs and making an appropriation therefor.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 Findings and Purpose. The New Hampshire general court finds that there is a critical shortage of affordable housing in this state. The purpose of this act is to conduct an audit and evaluation of the New Hampshire housing finance authority to determine which programs offer the most effective means of increasing the supply of affordable housing for the people of this state.

2 Financial and Performance Audit of New Hampshire Housing Finance Authority Programs and Procedures.

I. In addition to any other performance audit requirements, the audit division of the legislative budget assistant shall execute a financial and performance audit, in accordance with generally accepted government audit standards, of the New Hampshire housing finance authority programs and procedures. The report shall identify ways to improve the agency and the state's ability to provide affordable housing in New Hampshire. The audit and the resulting report shall be completed no later than November 1, 2003.

II. The audit division of the legislative budget assistant shall submit a final report of the financial and performance audit to both the joint legislative performance audit and oversight committee and to the fiscal committee of the general court, for transmission to the governor, the speaker of the house of representatives, and the president of the senate.

3 Appropriation. The sum of $1 is hereby appropriated to the legislative budget assistant for the fiscal year ending June 30, 2003, for the purposes of section 2 of this act. The governor is authorized to draw a warrant for said sum out of any money in the treasury not otherwise appropriated.

AN ACT requiring an audit of New Hampshire housing finance authority programs and making an appropriation therefor.

The Office of Legislative Budget Assistant has determined this bill will increase state general fund expenditures by $1 in FY 2003. There will be no fiscal impact on state, county, and local revenue or county and local expenditures.

This bill appropriates $1 from the general fund to the Legislative Budget Assistant for the fiscal year ending June 30, 2003 for the purposes of this act.

This bill requires the Audit Division of the Office of Legislative Budget Assistant to audit the New Hampshire Housing Finance Authority programs, and appropriates $1 in FY 2003 from the general fund for this purpose. The Audit Division has determined there would be no additional cost in actual added dollars to conduct specific financial and performance audits. The cost would be borne by existing appropriations to the Audit Division. Other audit topics, however, would be delayed.