Committee Summary for Finance Budget Briefing (06/10/2025)

Bill/Time	Type	Title	Sponsor
Unclear 00:02:26.239 -	General Working Session	Unclear
Unclear 00:19:03.840 -	General Working Session	Unclear

Unclear: Unknown Information Only00:02:26.239 -; The speaker mentioned not having anything further to add, indicating the end of their segment or the meeting.
Unclear: Unknown Information Only00:04:04.319 -; The speaker indicated forgetting something, possibly a point they intended to discuss or an item on the agenda.
Unclear: Unknown Information Only00:05:33.199 -; The speaker gave instructions about positioning near the microphone and facing the audience, suggesting preparation for a presentation or speech.
Unclear: Unknown Information Only00:06:48.000 -; The speaker humorously remarked about expecting a song, indicating a light-hearted moment during the session.
Unclear: Unknown Information Only00:18:01.039 -; The speaker announced the start of a presentation, indicating a transition to a more formal part of the session.
Unclear: Unknown Information Only00:18:52.240 -; The speaker mentioned being at the gym, which might be unrelated to the session's agenda but could be a personal note or a segue into a related topic.
Unclear: Michael Kane, Legislative Budget Assistant Information Only00:19:03.840 -; Michael Kane, the Legislative Budget Assistant, provided a detailed overview of the Senate's changes to the House-passed budget. He outlined the process used by the Senate Finance Committee, focusing on revenue adjustments and appropriation changes. Key points included differences in revenue estimates, adjustments to the Business Tax, Tobacco Tax, and Real Estate Transfer Tax splits, and changes in funding sources for various programs. He also discussed the impact of the Senate's decisions on the General Fund, Education Trust Fund, Highway Fund, and Fish and Game Fund. The Senate's budget proposal showed an increase in total revenues and adjustments compared to the House, with specific changes noted in various sectors such as health and human services, education, and judicial branches.
Unclear: Representative Thompson Information Only01:33:28.000 -; Representative Thompson inquired about the location of information regarding the use of funds from the Renewable Energy Fund. Michael Kane directed him to page four, line 57 of the document, explaining that the Senate reduced the assumed revenue from $5 million to $4 million annually compared to the House's proposal.
Unclear: Unnamed Representative Information Only01:35:27.760 -; An unnamed representative asked about the source of funding abbreviations on page 11 of the detail changes. Michael Kane explained that 'G' stands for General Funds, 'F' for Federal Funds, 'H' for Highway Funds, and 'O' for Other Funds, which include agency incomes and assessments.
Unclear: Unnamed Representative Information Only01:36:33.520 -; An unnamed representative questioned the significant differences in fiscal year 2025 revenue estimates between the Senate and the House, particularly in business taxes, insurance, and interest and dividends (IND). Michael Kane clarified that these differences stemmed from additional information received after the House Ways and Means discussions, particularly from discussions with the Department of Revenue Administration (DRA).
Unclear: Unnamed Representative Information Only01:37:35.040 -; An unnamed representative asked about the expected revenue increase from introducing video lottery terminals (VLTs) compared to historical horse racing machines. Michael Kane explained that both the House and Senate believed that VLTs would generate additional revenue, possibly due to different entities adopting them alongside or instead of historical horse racing machines.
Unclear: Unnamed Representative Information Only01:38:48.719 -; An unnamed representative raised concerns about a reported 71% decrease in Canadian visitors to New Hampshire and whether this was reflected in the budget numbers. Michael Kane noted that this would be a decision for the conferees to consider in adjusting revenue estimates, particularly for meals and rooms taxes.
Unclear: Unnamed Representative Information Only01:39:44.719 -; An unnamed representative mentioned that they had requested a briefing from the DRA Commissioner to clarify revenue estimates, indicating that the estimates had changed post the Senate Ways and Means Committee review.