This bill, titled "AN ACT relative to prohibiting corporations from purchasing single-family homes for a certain amount of time," aims to restrict the acquisition of single-family and multi-family housing to natural persons, with specific exceptions. Under the new legal language, non-natural persons (such as corporations) can only acquire such properties after they have been on the market for 90 days, unless they are acquiring the property for non-housing development or for the purpose of developing housing, in which case they must adhere to certain conditions. The bill mandates that any non-natural person acquiring real estate for these purposes must register with the Secretary of State within 60 days of acquisition and file annual reports detailing the status of the property.

Additionally, the bill includes provisions for enforcement and penalties. If a non-natural person fails to comply with the registration or reporting requirements, the Secretary of State is required to report the violation to the Attorney General, who will investigate. The bill also stipulates that if a property is acquired in violation of these regulations, it may be declared escheated to the municipality or county, and a civil penalty of up to $5,000 may be imposed for each offense. The effective date for these provisions is set for January 1, 2026. The bill does not provide funding for the implementation of these new requirements, which may necessitate significant upgrades to the current business registration system in New Hampshire.