The proposed bill, known as the "Firearms Freedom and Federalism Act," aims to exempt certain firearms and firearm accessories that are manufactured and retained within New Hampshire from federal regulation. The bill introduces a new chapter, Chapter 159-G, which outlines specific provisions regarding the marking, possession, and transfer of these firearms and accessories. Notably, any firearm or accessory produced in New Hampshire can be marked "For N.H. Use Only. Export is Criminal," indicating that these items are not to be exported outside the state and are exempt from federal interstate commerce regulations.

Additionally, the bill establishes criminal penalties for violations, including a class B misdemeanor for exporting or transferring marked items outside the state and for altering or removing the designated markings unless the item is rendered permanently inoperable. It also mandates that each marked item must have a unique serial number and a certificate of manufacture that tracks ownership transfers. The bill asserts that firearms and accessories marked as specified will be ineligible for federal regulation under the Commerce Clause of the U.S. Constitution. The act is set to take effect 60 days after its passage.