NAIFA-New Hampshire Week in Review

When it comes to political advocacy and protecting the interests of its members, NAIFA is the best in the business. NAIFA-New Hampshire Government Relations Committee partners with J. Grimbilas Strategic Solutions, LLC, to lobby on the issues important to our industry, our products and services, and our clients. 

J. Grimbilas Strategic Solutions, LLC. has been front line advocates to advance NAIFA-New Hampshire's legislative and regulatory priorities for many years. They've provided this week's update on recent committee meetings, bills they are following, and legislative issues they've identified as being of interest to NAIFA.

Today (Sept 13, 2024) is the last day for House members seeking re-election to file legislation.  Another bill submission period will begin after the November 5th election. Our daily monitoring of legislation has resulted in no pending legislation adversely impacting NAIFA.  You will be kept informed if new bills are made public through the weekend.  It is only a matter of time before the issues on which we typically engage are introduced.

Earlier this week, the House Commerce Committee met to discuss bills sent to interim study.  As you may recall, the conclusion of the Interim Study process is a non-binding recommendation regarding whether or not the bill should be refiled in the next session. Chairman John Hunt suggested all bills the committee did not assign to a subcommittee for discussion receive a “Not Recommended for Future Legislation” designation.  By using this process, the Committee could select those bills for which they would address.  These are the bills we are closely monitoring for NAIFA members:

• Rep. Keith Ammon requested a subcommittee to discuss both HB 1232  prohibiting state or local governments from using central bank digital currency and  HB 1674  relative to establishing the New Hampshire legal tender act and establishing a state bullion depository. The subcommittee members will include Reps. Ammon, Spier, and McGough.
• Rep. Ammon also stated that he planned to refile HB 1507  relative to innovative financial services.  He understood that any proposal needs a state regulator and the Banking Department was not the correct entity.  He will revise that portion and resubmit it for 2025
• Rep. Hunt indicated that both SB 353  relative to insurance coverage for autism spectrum disorder and Down syndrome and HB 1571  relative to requiring insurance coverage for glucose monitoring devices for people with diabetes would have a subcommittee.  The members will include Reps. Hunt, Spier, Beaulieu, Walsh and Post.
  

Next week the House Ways and Means Committee will hold their work and executive sessions on interim study bills.  We included the list of bills of interest to NAIFA below.

Tuesday, September 17, 2024

10:00am - HOUSE WAYS AND MEANS full committee work session on HB 15 - Relative to The Rate Of The Business Enterprise Tax; HB 100 - To Repeal The Interest and Dividends Tax; HB 1422 - Relative to The Rates Of The Business Profits Tax, Business Enterprise Tax, Communications Service Tax, and Meals and Rooms Tax; HB 1492 - Relative to The Rate and Exemptions Of The Interest and Dividends Tax in LOB 202-204

10:30am - HOUSE WAYS AND MEANS executive session on HB 15 - Relative to The Rate Of The Business Enterprise Tax; HB 100 - To Repeal The Interest and Dividends Tax; HB 1422 - Relative to The Rates Of The Business Profits Tax, Business Enterprise Tax, Communications Service Tax, and Meals and Rooms Tax; HB 1492 - Relative to The Rate and Exemptions Of The Interest and Dividends Tax in LOB 202-204