Attached is this week’s bulletin. SB3 relating to a comprehensive set of reforms to the NHRS is scheduled for a Committee of Conference session today to begin hammering out a compromise. Although this will sound like a rerun from a past episode, the Senate’s version of SB3 addresses in a coordinated and complete manner the many types of changes necessary to help control the ever escalating retirement costs being imposed on communities. The Dover Mayor and Council along with municipalities across the State of NH continue to hold the position that supports these necessary changes in the NHRS.
Also noteworthy regarding both NHRS reform and downshifting of the State’s obligation for costs associated with teacher, police and fire retirement costs, HB2 relating to the overall State budget, contains provisions that appear to be using the expected savings from the proposed retirement reforms in SB3 as the “state contribution,” thus justifying the elimination (aka downshifting) of the State’s obligation. Except for the legislative action proposed in HB2, these savings would remain with the local property taxpayers in the form of further reductions in NHRS cost increases.
Lastly, also mentioned previously, please be aware of the previously tabled SB133 relating to the telephone pole tax exemption for telecommunications company and its potential to resurface. The targeted tax exemption that would be implemented by this bill continues to be opposed by the Dover Mayor and Council along with municipalities across the State of NH.
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