N.H. finishes 2013 with $72 million budget surplus
The state of New Hampshire will finish 2013 with a budget surplus of $72.2 million.
A state report released yesterday notes that a stronger economy, lawsuit settlements and sound management helped the financial picture.
Business tax receipts were $33.7 million higher than anticipated while meal-and-room taxes were $14.1 million higher. Real estate transfer taxes were $12.2 million more than expected.
In 2013, the state got $20.8 million from the national tobacco settlement and another $9 million from a settlement with Hess over the gasoline additive MTBE.
Gov. Maggie Hassan praised the Legislature for working across party lines to pass a responsible, $10.7 billion budget.
House Republican Leader Gene Chandler said the good news should not be an excuse to increase spending and that the state should increase its rainy day fund.