authorizing electric utilities to issue AAA-rated bonds for the purpose of storm cost recovery and infrastructure resilience.
Sponsored By: Michael Vose (Republican)
Signed by Governor
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 1 benefits, 1 costs, 1 mixed.
Tax savings cut storm bond principal
When bonds are used to pay storm costs, customers get the value of related tax savings. The principal amount of the bonds is reduced by the present value of those deferred tax benefits. The discount rate is the bonds’ expected interest rate. This lowers the amount customers must repay through the per kilowatt-hour charge.
New per kilowatt-hour storm bond charge
The law adds a per kilowatt-hour charge on your electric bill to pay storm‑recovery bonds. The charge covers bond principal, interest, any premium, credit support, and related fees. It follows the bonds’ payoff schedule and uses sales forecasts. The commission must update the charge at least yearly, and up to monthly, to match actual bond costs. Utilities must file a report showing actual versus expected collections, and each change must be approved within 60 days.
Faster approval to securitize storm costs
Utilities can apply to the public utilities commission to pay past storm costs with bonds. The commission must decide within 60 days and may approve only if it is in the public interest, such as lowering overall costs or easing bill spikes. The law defines “storm costs” as prudently incurred preparation, repair, and response costs, plus related bond transaction costs. Existing qualifying finance orders remain valid.
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Sponsors & Cosponsors
Sponsor
Michael Vose
Republican • House
Cosponsors
David H. Watters
Democratic • Senate
Douglas W. Thomas
Republican • House
JD Bernardy
Republican • House
John Schneller
Republican • House
Kevin A. Avard
Republican • Senate
Maureen C. Mooney
Republican • House
Michael D Harrington
Republican • House
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Signed by Governor Ayotte 04/15/2026; Chapter 25; eff. 04/15/2026
4/17/2026HouseEnrolled (in recess of) 03/26/2026 HJ 9
4/8/2026HouseHB 1539 was Removed from the Consent Calendar; 03/26/2026; SJ 7
3/26/2026SenateOught to Pass: MA, VV; OT3rdg; 03/26/2026; SJ 7
3/26/2026SenateCommittee Amendment # 2026-1127s, AF, VV; 03/26/2026; SJ 7
3/26/2026SenateCommittee Report: Ought to Pass with Amendment # 2026-1127s, 03/26/2026; Vote 5-0; CC; SC 11
3/18/2026SenateHearing: 03/10/2026, Room 103, SH, 09:20 am; SC 9
3/4/2026SenateIntroduced 02/19/2026 and Referred to Energy and Natural Resources; SJ 5
2/25/2026SenateReferral Waived by Committee Chair per House Rule 47(f) 02/19/2026 HJ 5
2/19/2026HouseReferred to Finance 02/19/2026 HJ 5
2/19/2026HouseOught to Pass with Amendment 2026-0409h: MA VV 02/19/2026 HJ 5
2/19/2026HouseAmendment # 2026-0409h: AA VV 02/19/2026 HJ 5
2/19/2026HouseCommittee Report: Ought to Pass with Amendment # 2026-0409h 02/03/2026 (Vote 18-0; RC) HC 7 P. 38
2/9/2026HouseExecutive Session: 02/03/2026 03:00 pm GP 229
1/29/2026HousePublic Hearing: 01/29/2026 09:30 am GP 158
1/23/2026House==CANCELLED== Public Hearing: 01/26/2026 09:30 am GP 229
1/21/2026HouseIntroduced 01/07/2026 and referred to Science, Technology and Energy HJ 1 P. 25
12/10/2025House
Bill Text
Enrolled
4/8/2026
Introduced
12/10/2025
CHAPTERED FINAL VERSION
Version adopted by both bodies
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