Committee Summary for House Commerce and Consumer Affairs (04/22/2025)

Bill/Time	Type	Title	Sponsor
SB25 00:06:05.960 - 12:18:16 PM	Public Hearing	allowing credit union members to pay members of the board of directors for their services as a board member.	Innis, Daniel(R)[C+]2024
SB26 00:31:09.200 - 12:43:20 PM	Public Hearing	(New Title) relative to the definition of deposits as they pertain to land sales and escrow of deposits.	Pearl, Howard (R)[C+]2024
SB52 00:59:27.680 - 1:11:38 PM	Public Hearing	relative to default provisions in New Hampshire trusts.	Innis, Daniel(R)[C+]2024
SB85 01:07:40.079 - 1:19:51 PM	Public Hearing	relative to chartered bank lending limits.	Pearl, Howard (R)[C+]2024
SB164 01:15:48.640 - 1:27:59 PM	Public Hearing	relative to homeowners and prohibiting certain types of service agreements.	Ricciardi, Denise(R)[C-]2024

SB25: Senator Dan Inennis from Bradford Support00:06:05.960 - 12:18:16 PM; Senator Inennis introduced Senate Bill 25, which seeks to enable state-chartered credit unions in New Hampshire to compensate their board members. He explained that this legislation is supported by the Cooperative Credit Union Association of New Hampshire and the credit unions themselves. He highlighted that New Hampshire hosts the nation's first credit union, St. Mary's Bank, founded in 1909. The bill aims to align New Hampshire with 16 other states that allow such compensation, emphasizing the increased responsibilities and expertise required of credit union board members. The compensation is intended to attract and retain quality candidates to enhance governance and decision-making, though it remains optional for credit unions to implement.
SB25: Adrien Velasquez, Chief Advocacy Officer for the Credit Union Association Support00:09:25.519 - 12:21:36 PM; Adrien Velasquez testified in favor of Senate Bill 25, stressing the importance of the bill in allowing state-chartered credit unions to compensate board members. He noted that credit unions are vital to 800,000 members and contribute significantly to the local economy. Velasquez emphasized that the bill is enabling, not mandatory, and allows members to vote on board compensation. He clarified that the compensation could be modest and used to cover expenses like education courses, which could attract and retain talented board members in a competitive environment.
SB25: Ken Zenos, CEO and President of St. Mary's Bank Support00:13:41.360 - 12:25:52 PM; Ken Zenos testified in support of Senate Bill 25, sharing his experience with board member recruitment and retention. He described the extensive responsibilities and commitments required of board members, including education, attending conferences, and serving on various committees. Zenos emphasized the importance of retaining knowledgeable directors over time and noted the evolving nature of credit unions since their inception in New Hampshire. He advocated for the bill to help credit unions evolve and remain competitive by allowing them to compensate board members.
SB26: Senator Howard Pearl from Loudon Support00:31:09.200 - 12:43:20 PM; Senator Pearl introduced Senate Bill 26, which aims to clarify that funds for home upgrades and luxury items can be paid directly to builders without being held in escrow, unlike earnest money deposits. He explained that the recent AG's ruling on these funds as deposits has led to increased costs and limited choices for builders and buyers. The bill proposes that buyers be made aware of the non-refundable nature of funds for personalization through signed disclosures.
SB26: Alex Monister, New Hampshire Homebuilders Support00:35:04.240 - 12:47:15 PM; Alex Monister from the New Hampshire Homebuilders supported Senate Bill 26, explaining it as a fix to a problem caused by a recent AG ruling that classified upgrade funds as escrow deposits. He noted the AG's interpretation of the rules had changed, not the rules themselves, and that the proposed legislation had been developed in consultation with the AG's office. Monister provided a real-life example to illustrate the impact of the ruling on builders and buyers, emphasizing the need for the bill to allow flexibility in handling upgrade funds.
SB26: J.R. Davis, Assistant Attorney General, Consumer Protection Bureau Information Only00:39:19.480 - 12:51:30 PM; J.R. Davis from the Attorney General's Office provided information on Senate Bill 26, clarifying that the office took no formal position on the legislation. He highlighted an internal inconsistency in the bill regarding the definition of deposits and the ability to prepay funds. Davis suggested that sections one and three of the bill be deleted to resolve this issue, allowing the AG's office to approve prepayments under certain conditions. He emphasized the importance of consumer protection and the evolving nature of the real estate market, which has led to significant change orders affecting both builders and buyers.
SB26: Matt Mayberry, CEO of the New Hampshire Homebuilders Association Information Only00:57:18.799 - 1:09:29 PM; Matt Mayberry, representing the New Hampshire Homebuilders Association, suggested an amendment to Senate Bill 26. He proposed changing the word 'deposit' to 'prepayment' on page one, line 26, and page two, line 18. This change aims to address concerns raised by the Attorney General and align with the chairman's preferences. Mayberry indicated that this amendment would close the conversation on the issue and that the Association would be supportive if the committee finds it agreeable. He mentioned that the legal counsel would need time to consider this amendment and that it would be discussed in a subcommittee.
SB52: Senator Dan Inis, Bradford, New Hampshire, representing District 7 Support00:59:27.680 - 1:11:38 PM; Senator Dan Inis introduced Senate Bill 52 as a cleanup bill aimed at improving New Hampshire's trust services industry. He explained that the bill addresses default safe harbor provisions in the trust code to meet settlor's expectations regarding taxation and trust administration, and eliminates duplicative language. The bill updates tax savings clauses to align with current IRS rules, ensuring federal tax efficiency for New Hampshire trusts. It also clarifies the roles and obligations of fiduciaries in modern trusts, where duties may be divided among separate individuals or entities. The bill updates cross-references and removes redundant language from the trust code.
SB52: Glenn Pllo, Director and General Counsel at Jordan Park Trust Company, President of New Hampshire Trust Council Support01:01:21.160 - 1:13:32 PM; Glenn Pllo, representing Jordan Park Trust Company and the New Hampshire Trust Council, supported Senate Bill 52. He highlighted the growth of the trust industry in New Hampshire to over 1.6 trillion dollars in assets managed. Pllo deferred technical questions to Heather Perkins Augmanson, emphasizing the bill's role in maintaining and growing the trust industry in the state.
SB52: Heather Perkins Augmanson Support01:02:32.720 - 1:14:43 PM; Heather Perkins Augmanson provided a detailed explanation of Senate Bill 52's key revisions. She discussed the replacement of 'trustee' with 'fiduciary' to align with modern trust administration practices and the directed trust approach. She explained the updates to the tax savings clause to avoid unintended tax consequences and ensure federal tax efficiency. Augmanson also outlined the cleanup of cross-references and removal of duplicative language in the trust code, emphasizing the importance of these changes for maintaining New Hampshire's competitive edge in trust services.
SB85: Christy Merrill, President and CEO of New Hampshire Bankers Association Support01:07:40.079 - 1:19:51 PM; Christy Merrill, representing the New Hampshire Bankers Association, supported Senate Bill 85, which aims to raise the legal lending limit for New Hampshire chartered banks from 15% to 20% of capital, with an option to increase it to 25% if fully secured. She noted that this change would level the playing field with out-of-state banks and benefit smaller New Hampshire banks. The bill also proposes to align New Hampshire's denovo period with the FDIC's standard of three years, instead of five, to reduce regulatory burdens and encourage the establishment of new banks in the state. Merrill emphasized that these changes would not increase risk but would enhance competitiveness and access to credit.
SB164: Max Taylor, legislative aid to Senator Rashardi Support01:15:48.640 - 1:27:59 PM; Max Taylor introduced Senate Bill 164FN, aimed at protecting New Hampshire homeowners from deceptive real estate practices known as non-titled recorded agreements for personal services, or 'entraps.' These agreements, often marketed as quick cash opportunities by out-of-state companies, require homeowners to sign long-term agreements (up to 40 years) for future real estate brokerage services. These agreements are recorded in the county registry of deeds, clouding the title and causing legal and financial issues for current and future property owners. The bill renders these agreements void and unenforceable, developed with input from various organizations to ensure its effectiveness and enforceability. The legislation also empowers the Consumer Protection Bureau to pursue civil penalties for violations, and it aligns New Hampshire with over 30 states, including Maine and Connecticut, in prohibiting these practices.
SB164: Brian Townsen II, Senior Assistant Attorney General, New Hampshire Department of Justice Support01:18:37.840 - 1:30:48 PM; Brian Townsen II, from the Elder Abuse and Financial Exploitation Unit, supported Senate Bill 164. He explained that the bill targets 'entrap' agreements, which started causing issues about eight or nine years ago with companies like MV Realty. These agreements, often targeting elderly individuals, cloud property titles and require a service fee of about 3% of the home's purchase price to be released. He emphasized that these agreements are considered unfair and deceptive under New Hampshire's Consumer Protection Law and that the bill classifies them as such, making them void and unenforceable. He also addressed concerns about the terminology and exceptions within the bill, suggesting it narrowly targets these specific types of agreements.
SB164: Katherine Burby, President, New Hampshire Registry of Deeds Association, Dover Information Only01:30:34.320 - 1:42:45 PM; Katherine Burby stated that the New Hampshire Registry of Deeds Association is neutral on Senate Bill 164, as it does not typically take positions on bills unless they directly affect the registry's operations. However, they have concerns about a section of the bill that suggests a register of deeds can decline acceptance of a document if deemed unfair, which they believe oversteps their role of recording documents based on statutory requirements. She recommended amending the bill to remove this section and mentioned that while they have not seen the specific scenario described in the bill, they are aware of fraud cases and typically refer such issues to the county attorney's office.
SB164: Mike Padmore, Director of Advocacy, AARP New Hampshire Support01:34:23.040 - 1:46:34 PM; Mike Padmore, representing AARP New Hampshire, expressed strong support for Senate Bill 164, explaining that AARP approached Senator Rashardi to file this legislation. He provided a detailed background and example of how these agreements work in practice, emphasizing their detrimental impact on homeowners, especially when agreements run with the property and complicate refinancing or property transfer. He outlined the bill's development with various organizations and suggested amendments based on feedback, such as removing the word 'maintenance' and a clause about refusing to record unfair agreements. He stressed the importance of making these agreements unenforceable to protect consumers and noted that over 30 states have passed similar legislation, deterring these practices.
SB164: John Bfanssky, Retired Chief of Police, Bedford Support01:42:42.320 - 1:54:53 PM; John Bfanssky, a retired chief of police from Bedford with 45 years in law enforcement, supported Senate Bill 164 from a law enforcement perspective. He highlighted the multi-billion dollar industry targeting seniors and others with fraudulent schemes that undermine their financial stability, particularly through schemes like the one addressed by the bill. He emphasized the need for preventative measures and the bill's role in closing a gap in New Hampshire's real estate industry. He also shared his experience with weekly fraud cases and stressed the importance of the bill in preventing such practices and providing recourse for victims.
SB164: Bob Quinn, CEO of the New Hampshire Association of Realtors Support01:55:28.800 - 2:07:39 PM; Bob Quinn supports SB164FN and agrees with previous testimonies regarding the fraudulent and deceitful nature of the agreements in question. He confirmed that MV Realty, the company involved, does not operate in New Hampshire. He clarified the distinction between realtors and real estate licensees, noting that all realtors are real estate licensees, but not vice versa. He believes that engaging in such practices would violate RSA 331A, the Real Estate Practice Act, which could result in license revocation. He also mentioned that various states have different approaches to similar issues, such as Maine's 'unfair agreements to list residential real estate' and Colorado's 'broker engagement agreements.' He offered to work with the subcommittee and AARP on refining the bill's language.
SB164: Mary Roberts, Manchester, AARP New Hampshire Volunteer and Fraud Fighter Support01:58:17.760 - 2:10:28 PM; Mary Roberts supports SB164 and focuses on educating people about frauds. She highlighted the predatory nature of certain real estate brokerage firms that offer upfront cash in exchange for long-term listing agreements, which can be confusing and disadvantageous to property owners. She explained that SB164 aims to make such agreements unenforceable, prohibit their recording in property records, impose penalties for recording, and provide mechanisms for the removal of these recordings and recovery of damages.
SB164: Sharon Hickey, Merrimack, AARP New Hampshire Volunteer Support02:00:20.080 - 2:12:31 PM; Sharon Hickey supports SB164, describing it as a common sense bill aimed at preventing predatory practices by real estate firms. She explained that these firms offer nominal upfront cash in exchange for future listing agreements that can last up to 40 years, encumbering the property and potentially affecting the owner's ability to sell or transfer it. She emphasized the bill's role in consumer protection and preventing scams.
SB164: Patrick McDermott, Hooksett, AARP New Hampshire Volunteer State President Support02:03:08.159 - 2:15:19 PM; Patrick McDermott supports SB164 and represents AARP's 212,000 members in New Hampshire. He stressed that no organized groups support these service agreements, and they can impact homeowners and their families for generations. He highlighted the minimal benefits and potential harm these agreements pose, particularly to vulnerable citizens, and urged the committee to outlaw this unfair practice.
SB164: Unknown Information Only02:05:15.800 - 2:17:26 PM; The speaker briefly mentioned 'today' but provided no further details or context in the snippet provided.

Hunt, John(Chairman)(R)[B+]2024	Post, Lisa(Clerk)(R)[A]2024	Potucek, John(V Chairman)(R)[A]2024
Salvi, Santosh(D)	Chourasia, Manoj(D)	Ammon, Keith(R)[A+]2024
Herbert, Christopher(D)[F]2024	Osborne, Jason(R)[A]2024	Thackston, Dick(R)[B]2024
Walsh, Lilli(R)[B]2024	Porcelli, Susan(R)[A-]2024	Spier, Carry(D)[CT]2024
Burroughs, Anita(D)[CT]2024	Gibbs, Merryl(D)[CT]2024	McAleer, Chris(D)[CT]2024
Sullivan, Jared(D)[D+]2024	Miles, Julie(R)	Presa, Adam(R)