Committee Summary for Senate Finance (04/07/2026)

Member	Member	Member
Gray, James(Chairman)(R)[B-]2025	Innis, Daniel(V Chairman)(R)[B]2025	Carson, Sharon(R)[B]2025
Watters, David(D)[D-]2025	Birdsell, Regina(R)[B-]2025	Lang, Timothy(R)[B-]2025
Rosenwald, Cindy(D)[F]2025	Pearl, Howard (R)[B]2025

Bill/Time	Type	Title	Sponsor
HB1042	Executive Session	raising the unified contingent credit limit.	Sweeney, Joe(R)[A]2025
HB1042 1285-S	Public Hearing	raising the unified contingent credit limit.	Sweeney, Joe(R)[A]2025
HB1042 1285-S	Executive Session	raising the unified contingent credit limit.	Sweeney, Joe(R)[A]2025
SB1491	Public Hearing	relative to regulation of municipal group risk pools	Likely Text to Speech Error on Bill #
HB1491	Public Hearing	relative to pooled risk management programs.	Hunt, John(R)[B+]2025
HB1491	Executive Session	relative to pooled risk management programs.	Hunt, John(R)[B+]2025

HB1042: Information Only 00:02:54.246 - 1:16:35 PM; The committee enters executive session to reconsider House Bill 1042. Motion to reconsider is made and passes unanimously. They then exit executive session to begin the public hearing on the amendment.
HB1042 1285-S: Information Only 00:02:54.246 - 1:16:35 PM; Senator Perkins-Coyle introduces Amendment 1285-S to increase the borrowing limit of the New Hampshire Housing Finance Authority from current levels to about twice that amount, maintaining the same proportions for single-family loans and bond reserves. This addresses the top voter issue of housing by increasing capacity to support housing supply and first-time homebuyers. In 2025, about 1000 families became first-time homeowners with assistance from 50 lenders. The amendment creates additional borrowing capacity without impacting the general fund as contingent liabilities.
HB1042 1285-S: Information Only 00:04:13.702 - 1:17:54 PM; Asks for details on accomplishments of the fund and potential impact of the increase, noting it could help thousands more families get housing.
HB1042 1285-S: Information Only 00:05:29.395 - 1:19:10 PM; Inquires about impact on general fund or other funds, clarified as no direct impact since it's contingent credit limits, pennies on the dollar, no fiscal note showing general fund effect.
HB1042 1285-S: Support 00:06:38.689 - 1:20:19 PM; Provides more details on the use of funds for single-family first-time homebuyer programs and multifamily preservation/creation, supporting 400-1000 units annually. Notes high interest rates have grown the balance sheet to $1.6 billion against a $2 billion cap, expecting to hit limit in early 2027. Increasing to $6 billion could extend capacity for about 10 years if rates stay high. Emphasizes these are not state liabilities; no full faith and credit or taxing power pledged. Current outstanding debt is $1.6 billion.
HB1042 1285-S: Information Only 00:08:33.773 - 1:22:14 PM; Thanks for the work and asks about balance sheet and how long the increase would last, with response that refinancing affects it, potentially 10 years if rates high.
HB1042 1285-S: Vote 00:09:31.773 - 1:23:12 PM; Committee enters executive session after public hearing. Reconsiders HB 1042, defuncting previous amendment 1269. Passes Amendment 1285-S unanimously (5-0). Authorizes LBA to combine Amendments 1269 and 1285 into one. Votes ought to pass as amended with combined amendments unanimously on consent. Motion to exit executive session passes.
SB1491: Support 00:17:32.349 - 1:31:13 PM; Introduces SB 1491, the same bill passed by House Commerce and House last year but not conferenced. Provides history: Original self-insurance risk pools passed 24 years ago with no regulation, just reporting to Secretary of State. In 2010, amid concerns over high reserves in one city (union firefighters pushing for lower premiums), statute changed to give Secretary of State authority to sue for refunds if reserves too high. This led to issues in 2020. Advocates repealing 2010 changes to return to no regulation, or better, regulate under Insurance Department like Delta Dental, which kept premiums flat during high reserves post-COVID. Supports allowing risk pools to choose regulator (Secretary of State or Insurance Department) with good transition language. Excited for potential two solutions this year.
SB1491: Information Only 00:26:21.091 - 1:40:02 PM; The Commissioner introduced the team and thanked the committee for the opportunity to discuss the amendment to SB 1491. He recognized the proposal's intent to modernize risk management for political subdivisions by establishing a dual framework for pooled risk management programs, including accessible and non-accessible models. For accessible pools, the amendment reinforces member responsibility, reserve requirements, and oversight by the Secretary of State. For non-accessible pools, under Insurance Department authority, it emphasizes upfront pricing and capital management without retrospective assessments. The department supports this direction for budget stability and loss prevention but noted the shift requires careful calibration, including tailored solvency standards, scale and diversification, risk transfer via reinsurance, rate setting, transition clarity, and regulatory oversight. He suggested refinements in areas like regulatory classification, federal implications, advisory board role, rulemaking, governance, and market structure to ensure long-term sustainability. The team answered questions on bond requirements, transition processes, board compositions, risk-based capital calculations, solvency interventions, and other provisions.
SB1491: Support 01:02:49.585 - 2:16:30 PM; Scott Roach and Jean Herrick provided testimony supporting SB 1491 as passed by the House, which establishes Section 420-R using nationally recognized standards for solvency in advanced premium risk pools. They emphasized that it ensures risk pool solvency, protects against insolvency threats, pays claims, avoids assessments, and maintains fixed-cost coverage for public sector entities. Health Trust, the only NH health risk pool, has never depleted reserves or issued assessments due to sound actuarial practices, even post-COVID. They support rigorous regulation, rate approval, and departmental intervention to protect policyholders and taxpayers. Regarding the proposed amendment, they expressed concerns about: (1) reinsurance at a 105% attachment point, which may be unavailable or too costly for their size, suggesting 120-125% instead; (2) the deposit requirement (5-10% of contributions, ~$50M), which could deplete reserves below safe levels, proposing alternatives like $5M or flexibility; (3) the five-year look-back for rate building, inappropriate for health due to rapid medical trends, recommending recent 12 months data. They support RBC methodology and offered to collaborate on reasonable, actuarially sound standards. They addressed questions on surety coverage (already $5M in place), reserves (nearing 12%), non-assessable pools (exist nationally without guarantee funds, guided by GASB standards), and reinsurance needs, stressing reserves and monitoring as primary solvency tools.
HB1491: Information Only 01:24:22.260 - 2:38:03 PM; Eric Forshear introduces himself as neutral on the bill, stating it is a policy decision for the legislature. He notes the office provided expertise on language in the amendment and brought Hua to answer questions and explain the necessity of the amendment.
HB1491: Information Only 01:25:16.580 - 2:38:57 PM; Hua explains the importance of the amendment to create a non-accessible health insurance pool, emphasizing risks such as inability to assess members during runoff, leading to denied claims. He clarifies misconceptions about historical non-accessibility of NH pools, debunks claims based on past non-assessments or management policies, and highlights the need for regulation without backstops. He discusses bill provisions like deposit requirements and lookback periods, refuting Health Trust's interpretations, and requests examples of legally non-accessible health pools.
HB1491: Support 01:34:43.533 - 2:48:24 PM; Margaret Burns supports HB 1491 for enhancing clarity and choice in joining accessible or non-accessible risk pools, allowing members to plan budgets accordingly and avoiding surprises from mid-year assessments. She views it as a compromise incorporating Senate and House positions, strengthening regulations under the Department of Insurance. She notes provisions for new risk pool creation to boost competition. Regarding the amendment, she expresses concerns about transition barriers to Insurance Department regulation and suggests advisory board composition include risk pool members rather than regulators.
HB1491: Support 01:40:17.005 - 2:53:58 PM; Scott Cruz praises the Insurance Department's testimony and emphasizes key principles: solvency, rate stability to avoid volatility for taxpayers, efficient regulation by the Insurance Department due to their expertise, and choice in regulation. He shares experiences with surplus returns creating administrative burdens and subsequent shortfalls leading to rate hikes, advocating for premium stability. He commends the compromise efforts and optimism for resolution.
HB1491: Information Only 01:44:46.105 - 2:58:27 PM; The Chairman motions to enter executive session and proposes leading discussions on aligning HB 1491 and SB 661, intending to address Insurance Department concerns via bill or rules, and plans for committee of conference.
HB1491: Information Only 01:45:31.870 - 2:59:12 PM; Senator Rosenthal expresses concern about inefficiency in regulating three risk pools under two agencies, suggesting consolidation under one, preferably the Insurance Department, and notes overlap in responsibilities.
HB1491: Information Only 01:47:06.105 - 3:00:47 PM; The Senator discusses potential for transitioning all pools to Insurance Department regulation with a time period and process, acknowledges progress and need to work out details, but defers major changes to next year.