HB 1519 is new legislation which was enacted in the State of New Hampshire concerning meals and rentals operators. The new law rescinds the $5,000 surety bond requirement for meals and rentals operators. The surety bond was required to guarantee the payment of the applicable taxes. Initially the law would have instituted a risk assessment system for deciding whether a surety bond would be required; the SFAA believed this had unfavorable selection problems. The law was replaced for a full cancelation of the surety bond requirement, which also was under deliberation under other legislation. HB 1519 became active upon enactment.
Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog.