This bill establishes the "Governance, Regulation, and New Hampshire Innovation in Trust and Equity Commission Act," also known as the "GRANITE Commission Act." The primary purpose of the commission is to study the feasibility, benefits, and risks of creating a court of chancery with specialized jurisdiction over corporate, commercial, and equitable matters in New Hampshire. The commission will consist of various members, including representatives from the House and Senate, the New Hampshire Supreme Court, the University of New Hampshire Franklin Pierce School of Law, and other stakeholders from the business community. The commission is tasked with examining potential reforms to corporate law, evaluating recruitment mechanisms for judicial positions, and assessing the fiscal impact of such a court on state revenues.

The bill includes new legal language that establishes the commission and outlines its composition and responsibilities, while deleting any conflicting provisions from existing law. Notably, it specifies that commission members will serve without compensation and mandates that the commission submit an annual report of its activities and findings starting November 1, 2026, with recommendations for proposed legislation due by November 1, 2030. The commission will remain in existence until it is repealed by the general court, ensuring a sustained effort to explore New Hampshire's potential as a leader in corporate governance. The act will take effect 60 days after its passage.