New Hampshire lawmakers will be holding a special session to deal with a looming budget shortfall.
Governor John Lynch will ask the Executive Council this morning to call lawmakers into session to consider borrowing some of the state’s share of school construction aid.
House and Senate leaders say they would convene the special session later today after they finish work on compromise legislation negotiated over the past couple of weeks.
Lawmakers will be asked to borrow whatever is needed to balance the books for 2008 and up to $40 million to ensure a balanced budget by the end of next June.
The budget bill also will require the Pease Development Authority to repay about $10.5 million it owes the state and authorize the community college system to borrow $5.5 million. The community college system needs the money to complete the sale of its Straham campus and renovate its Pease campus.