On May 21, 2025, the New Hampshire House Commerce and Consumer Affairs Committee convened to discuss significant amendments related to pooled risk management programs, which are crucial for public entities in the state. The meeting highlighted concerns regarding the potential commingling of funds and the implications of new licensure requirements for these programs.

Lisa Duquette, the executive director of SchoolCare, raised critical points about the proposed legislation. She expressed apprehension that the language in the amendments might allow for the commingling of public entity risk funds, reminiscent of past issues with the Local Government Center. This concern underscores the importance of clear regulations to prevent misuse of funds that are intended for specific purposes.

Duquette also addressed the complexities surrounding the proposed licensure requirements. She noted that while the legislation appears to align with insurance practices, it simultaneously states that these programs are not insurance. This contradiction raises questions about the regulatory framework and the potential burden on entities that may not traditionally operate under insurance guidelines. The committee members were urged to clarify the licensure process, including the timeframes for studies and examinations, which could significantly impact how these programs function.

Another point of discussion was the timing of financial reporting requirements. Duquette suggested that the current deadline of March 1 for filing reports may not align well with the fiscal year ending on June 30, indicating a need for adjustments to better accommodate the operational realities of these programs.

The committee also explored the implications of a proposed uniform accounting system, which could affect how public entities manage their finances. Concerns were raised about the necessity and practicality of such a system, given that many entities already adhere to established governmental accounting standards.

In conclusion, the meeting underscored the need for careful consideration of the proposed amendments to ensure they serve the best interests of public entities in New Hampshire. The discussions revealed a landscape of regulatory challenges that could impact the financial management and operational efficiency of pooled risk management programs. As the committee continues to refine the legislation, stakeholders will be watching closely to see how these changes will shape the future of public entity risk management in the state.