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

Bill/Time	Type	Title	Sponsor
HB1ANDHB2 00:11:56.000 - 12:09:42 PM	General Working Session	Biennial Budget for Fiscal Years 2025-2027	Likely Text to Speech Error on Bill #

HB1ANDHB2: Michael Kane, Legislative Budget Assistant, with staff Mick Landeran, Melissa Rollins, Jack Mullen, Kevin Ripple, and Chris Shay Information Only00:11:56.000 - 12:09:42 PM; Michael Kane provides a detailed overview of the Senate's changes to the House-passed budget for House Bill 1 and House Bill 2, focusing on revenues, appropriations, and surpluses in the general fund, education trust fund, highway fund, and fish and game fund. He explains the process used by Senate Ways and Means and Senate Finance Committees, including waiting for April revenue figures and discussions on business taxes, real estate transfer tax, and tobacco tax. Key differences include Senate revenues being $416 million higher over three years due to adjustments, with total revenue adjustments between House and Senate at $237 million, largely from differing video lottery terminal estimates ($80 million lower in Senate). The presentation covers surplus statements, lapse estimates (e.g., HHS lapse increased to $60 million), rainy day fund transfers (Senate $93.4 million vs. House $148.8 million), and ending balances, such as Senate's $105.5 million education trust fund balance entering FY26 vs. House's $71.8 million. Kane walks through schedules detailing revenue splits (Senate 64.5/35.5 vs. House 70/30), policy changes like additional auditors, liquor revenue dedications, tax amnesty ($5 million), and appropriations adjustments including YDC settlements, provider rate restorations, and mental health funding increases. He highlights Senate priorities like removing Medicaid provider rate reductions ($52.5 million restored), adding $37.8 million to community mental health, and $31.4 million to developmental services to clear waitlists. The briefing includes comparisons across governor, House, and Senate proposals, source-of-funds shifts, and notes on upcoming committee of conference discussions. Staff are available for further questions.
HB1ANDHB2: Unidentified Committee Member Information Only01:27:27.280 - 1:25:13 PM; The speaker asks for clarification on the column labeled 'SOF' on page 11 of the detail changes, seeking to understand the sources of funding abbreviations: G for general funds, F for federal funds, H for highway funds, and O for other funds including agency incomes and restricted assessments.
HB1ANDHB2: Michael Kane, Legislative Budget Assistant Information Only01:27:27.280 - 1:25:13 PM; Michael Kane explains the sources of funding abbreviations in response to the question.
HB1ANDHB2: Unidentified Committee Member Information Only01:28:19.920 - 1:26:05 PM; The speaker inquires about significant differences between Senate and House estimates on page three for fiscal year 25, specifically the $30 million change under business taxes, and notes similar discussions with Commissioner Stepp. Kane confirms these stem from Senate Ways and Means estimates, with additional information post-House Ways and Means, and highlights the need for agreement in committee or conference. The discussion also covers a $30 million reduction in IND revenue based on April and May trends from DRRA, and a $24 million increase in insurance from discussions with the insurance commissioner.
HB1ANDHB2: Unidentified Committee Member Information Only01:29:26.239 - 1:27:12 PM; The speaker questions the assumption of extra revenue from federal video lottery terminals (VTs), comparing them to existing historic horse racing machines and doubting significant revenue increase. Kane responds that historic horse racing revenues are higher than anticipated, and both House and Senate believe VTs will add revenue through additional entities adopting them alongside or instead of historic horse racing, to be resolved by conferees.
HB1ANDHB2: Unidentified Committee Member Information Only01:30:29.360 - 1:28:15 PM; The speaker raises concerns about a reported 71% decrease in Canadian visitors to New Hampshire and asks if budget estimates reflect this or include protections for tourism decline, particularly in meals and rooms taxes. Kane notes that meals and rooms came in higher, and any adjustments would be a decision for conferees on House Bill One, potentially as a revenue estimate change.
HB1ANDHB2: Unidentified Committee Chair Information Only01:31:40.800 - 1:29:26 PM; The chair mentions sending an email to Chairman Wilder to have DRRA brief the committee on the revenue estimates, noting changes post-Senate Ways and Means, and expresses hope for a direct report from the commissioner.
HB1ANDHB2: Michael Kane, Legislative Budget Assistant Information Only01:32:34.800 - 1:30:20 PM; Kane invites any additional questions, encourages emailing, calling, or visiting the office for assistance, and thanks the committee.