§ 9:13-e — Revenue Stabilization Reserve Account

I. Notwithstanding the definition of "budget" in RSA 9:1, for purposes of this section the term "budget" means the operating budget in effect for the appropriate fiscal biennium.
II. There is hereby established within the general fund general ledger a revenue stabilization reserve account. At the close of the fiscal biennium ending June 30, 2001, and at the close of each fiscal biennium thereafter, except as otherwise provided in law, any surplus, as determined by the official audit performed pursuant to RSA 21-I:8, II(a) shall be transferred by the comptroller to a special nonlapsing revenue stabilization reserve account. The comptroller is hereby directed to establish the revenue stabilization reserve account in which to deposit any money received from a general fund operating budget surplus. The state treasurer shall invest funds in this account as authorized by RSA 6:8. The interest so earned shall be deposited as unrestricted general fund revenue.
III. In the event of a general fund operating budget deficit at the close of any fiscal biennium as determined by the official audit performed pursuant to RSA 21-I:8, II(a), the comptroller shall notify the fiscal committee of the general court and the governor of such deficit and request that sufficient funds, to the extent available, be transferred from the revenue stabilization reserve account to eliminate such deficit. Such transfer may be made only when both of the following conditions have been met:
(a) A general fund operating budget deficit occurred for the most recently completed fiscal biennium; and
(b) Unrestricted general fund revenues in the most recently completed fiscal biennium were less than the budget forecast.
The amount of said transfer shall not exceed a sum equal to the lower of the amount of the deficit in subparagraph (a) or the revenue shortfall in subparagraph (b). Upon receipt of approval from both the fiscal committee and the governor, the comptroller shall immediately transfer the sums so approved to the general fund surplus account.
IV. No available balance in the revenue stabilization reserve account shall be utilized for any purpose other than those authorized by paragraphs II and III, without the specific approval of 2/3 of each house of the general court and the governor.
V. If, after the requirements of paragraphs II-IV have been met and the balance remaining in the revenue stabilization reserve account is in excess of an amount equal to 10 percent of the actual general fund unrestricted revenues for the most recently completed fiscal biennium, then such excess, less any amounts deposited pursuant to RSA 7:6-e, shall be transferred, without further action, to the general fund surplus account.
VI. Notwithstanding any other provision of RSA 9:13-e, in the event of a general fund operating budget deficit at the close of fiscal year 2025, as determined by the official audit performed pursuant to RSA 21-I:8, II(a), the state comptroller shall notify the fiscal committee and the governor of such deficit and request approval to transfer funds from the revenue stabilization reserve account to eliminate such deficit.

Legislative History

1986, 18:3. 1987, 416:3. 1992, 289:2. 1993, 358:73. 1998, 109:1, 2. 2001, 158:41. 2012, 247:1, eff. Aug. 17, 2012. 2016, 237:2, eff. June 10, 2016. 2017, 156:68, eff. June 30, 2017; 156:132, eff. July 1, 2017. 2021, 91:87, eff. July 1, 2021. 2025, 141:139, eff. July 1, 2025.