On June 19th, 2023, Governor Chris Sununu signed HB 1 and HB 2, the state budget, before a bipartisan group of lawmakers and advocates.

“This is a bipartisan miracle budget that provides for families, employees, students, and businesses,” said Governor Chris Sununu. “Everyone gave a little to get a lot. This budget proves that with a near evenly split legislature, here in New Hampshire, we’re able to come together and deliver for the people of the Granite State to unlock unprecedented opportunity. Today is proof that with the right approach, good government is still possible.”

The budget signed into law by the Governor today:

• Includes no new taxes
• Eliminates the Interest and Dividends Tax as of December 31, 2024
• Downshifts $2.7 Billion in cash to cities and towns
• Includes an across-the-board 10% pay increase for NH’s state employees – the single largest increase in state worker salaries in nearly 50 years – followed by another 2% raise next year
• Dedicates $50 million to housing stability, along with workforce and affordable housing development
• Provides more money for public education than ever before, with an additional $140.8 million sent to NH schools over the next two years
• Revamps and simplifies the Education Funding Formula to target aid and provide more per student, including to students who receive Education Freedom Accounts and charter schools – increasing both base aid and free or reduced lunch. This approach directs more money to the school districts that need it most
• Significant across-the-board Medicaid rate increases for services to help recruit and retain critical workers