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2022 New Hampshire Revised Statutes
Title I - The State and Its Government
Title 12-O - Department of Business and Economic Affairs
Section 12-O:64 - COVID-19 Micro Enterprise Relief Fund.
Universal Citation: NH Rev Stat § 12-O:64 (2022)
12-O:64 COVID-19 Micro Enterprise Relief Fund. –
I. There is established in the office of the state treasurer a fund to be known as the COVID-19 micro enterprise relief fund. Notwithstanding RSA 4:45, RSA 4:47, RSA 21-P:43, or any other law to the contrary, to the extent permissible under federal law any federal funds received by the state in response to the COVID-19 public health emergency may be deposited into the fund.
II. Funds shall be disbursed at the discretion of the commissioner to the 10 New Hampshire regional economic development corporations to be awarded to local or regional micro enterprises. Each regional development corporation shall be eligible to receive funds. Each regional development economic council shall be authorized to assess an administrative fee up to 10 percent of the funds received through the state to manage this grant program. Any regional economic development corporation that does not award all of the funds received in grants to local micro enterprises shall return the funds to micro enterprise relief fund at the department of business and economic affairs for redistribution at the discretion of the commissioner.
III. With each award, an agreement for technical assistance shall be put in place between the regional development corporation, the New Hampshire small business development center, and the micro enterprise to support the implementation of the funds. Eighteen months after the implementation of the program, the regional economic development councils will prepare and submit reports to the commissioner, that include the number of grants and the amounts, and the use of each grant by the recipient. The commissioner shall compile these reports and submit a compiled report to the speaker of the house of representatives, the senate president, the house clerk, the senate clerk, the state library, and the governor.
IV. Regional economic development corporations shall award one-time grants to support one or more areas of need, including development of e-commerce capabilities, upgrading business practices, or maintaining storefront presence. The regional economic development corporations shall ensure micro enterprises awarded grants pursuant to this subdivision are provided such assistance as may be necessary to support implementation of any grants awarded.
V. For purposes of this subdivision, " micro enterprise " shall mean an entity with 10 or fewer employees, including any proprietor, that has been in business prior to March 13, 2020, when the governor signed the first declaration of a state of emergency due to COVID-19 and that has demonstrated a financial impact during the COVID-19 public health emergency, such as temporary closure, reduction in workforce, or loss of revenue of 50 percent or greater when compared to the same time period during the previous year. Financial statements demonstrating losses, closures, or reduction in workforce shall be supplied as part of the application process.
I. There is established in the office of the state treasurer a fund to be known as the COVID-19 micro enterprise relief fund. Notwithstanding RSA 4:45, RSA 4:47, RSA 21-P:43, or any other law to the contrary, to the extent permissible under federal law any federal funds received by the state in response to the COVID-19 public health emergency may be deposited into the fund.
II. Funds shall be disbursed at the discretion of the commissioner to the 10 New Hampshire regional economic development corporations to be awarded to local or regional micro enterprises. Each regional development corporation shall be eligible to receive funds. Each regional development economic council shall be authorized to assess an administrative fee up to 10 percent of the funds received through the state to manage this grant program. Any regional economic development corporation that does not award all of the funds received in grants to local micro enterprises shall return the funds to micro enterprise relief fund at the department of business and economic affairs for redistribution at the discretion of the commissioner.
III. With each award, an agreement for technical assistance shall be put in place between the regional development corporation, the New Hampshire small business development center, and the micro enterprise to support the implementation of the funds. Eighteen months after the implementation of the program, the regional economic development councils will prepare and submit reports to the commissioner, that include the number of grants and the amounts, and the use of each grant by the recipient. The commissioner shall compile these reports and submit a compiled report to the speaker of the house of representatives, the senate president, the house clerk, the senate clerk, the state library, and the governor.
IV. Regional economic development corporations shall award one-time grants to support one or more areas of need, including development of e-commerce capabilities, upgrading business practices, or maintaining storefront presence. The regional economic development corporations shall ensure micro enterprises awarded grants pursuant to this subdivision are provided such assistance as may be necessary to support implementation of any grants awarded.
V. For purposes of this subdivision, " micro enterprise " shall mean an entity with 10 or fewer employees, including any proprietor, that has been in business prior to March 13, 2020, when the governor signed the first declaration of a state of emergency due to COVID-19 and that has demonstrated a financial impact during the COVID-19 public health emergency, such as temporary closure, reduction in workforce, or loss of revenue of 50 percent or greater when compared to the same time period during the previous year. Financial statements demonstrating losses, closures, or reduction in workforce shall be supplied as part of the application process.
Source. 2021, 91:438, eff. June 25, 2021.
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