BY: Citizens Count
On Monday, July 27 Gov. Maggie Hassan (D) will sign SB 266, which updates the laws regulating securities in New Hampshire.
Right now New Hampshire securities law is based on the Uniform Securities Act of 1956.
"SB 266 does not add additional regulatory requirements or costs to doing business, and in fact is expected to lower costs by removing complexity, idiosyncrasy, hurdles and traps for the unwary," said Rep. Laurie Sanborn.
Legislators hope the new securities regulations will help New Hampshire startups raise capital.
SB 266 created some controversy when a House amendment reduced some filing fees, potentially lowering state revenue.
"We heard testimony that these costs were already much lower than in other states, so the revenue loss is not necessary to encourage business investment in the state," said Rep. Kermit Williams.
The House and Senate agreed on a final version of the bill that keeps the House amendment but raises some other filing fees, balancing some of the lost revenue.