NH Legislature considers selling state assets to fill budget gap
CONCORD, New Hampshire: As part of its plan to alleviate a $295 million budget gap, the New Hampshire legislature approved a plan to create a commission which would inventory potential state property for sale or lease, and also look into possible privatization of some state programs. The goal of the plan is to raise $60 million by June 30, 2011. The idea, proposed by Sen. Harold Janeway (D), consists of an 8 member commission made up of legislators and representatives from the treasurer's office, Department of Administrative Services, and the governor.
New Hampshire is not the first state to deal with a budget deficit by selling assets. Several states have implemented similar plans, including Arizona, which has raised about $1 billion this year by selling property.
In related fiscal news, Gov. John Lynch announced he would be posting the state's monthly spending report on a new transparency website. It will also include other financial information, including budget items and revenue reports.