This bill introduces Chapter 162-V to the New Hampshire Revised Statutes, focusing on attracting large-scale data-center campuses while modernizing the electric grid through diversified non-gas generation sources. Key provisions include the establishment of property-tax stabilization agreements, allowing municipalities to offer phased tax incentives for qualifying data-center projects, and a transferable business tax credit for developers, capped at 20% of total construction costs. Developers are required to enter into grid modernization agreements (GMAs) with the Department of Energy and the Public Utilities Commission, which will detail cost-sharing, energy sourcing, and community benefits. Additionally, the bill emphasizes workforce development by mandating job creation with living wages and partnerships with educational institutions for relevant training.

The bill also outlines the responsibilities of the Department of Energy, which will require hiring additional staff, including a utility analyst, environmental engineer, and attorney, to manage GMAs and enforce environmental commitments. The estimated costs for these positions are projected to be significant, but the bill does not provide funding for them, raising concerns about the Department's ability to implement the new provisions. The effective date of the bill is set for April 1, 2026, but there are concerns regarding its alignment with business tax filing periods. Overall, the fiscal impacts of the proposed agreements and credits are indeterminable, with potential increases in local revenues and expenditures depending on the development of data-center campuses.