This bill proposes the addition of Chapter 162-V to the New Hampshire Revised Statutes, focusing on attracting large-scale data-center campuses and modernizing the electric grid through diversified non-gas generation. Key features include the establishment of property-tax stabilization agreements that allow municipalities to offer phased tax agreements for qualifying data-center campuses, and a transferable business tax credit for developers, capped at 20% of construction costs. Developers are required to enter into a Grid Modernization Agreement (GMA) with the Department of Energy and the Public Utilities Commission, detailing obligations related to energy sourcing, interconnection costs, and community benefits. The bill also emphasizes workforce development, mandating job creation standards and funding for educational partnerships, while ensuring community protections through host-community agreements. Additionally, the bill introduces provisions for municipalities to offer phased property-tax stabilization agreements or Payment in Lieu of Taxes (PILOT) agreements for data-center campuses that meet specific investment, square-footage, and job-creation thresholds. It creates a new Data-Campus Development Credit (DCD credit) against the Business Profits Tax and Business Enterprise Tax, allowing for a credit equal to a percentage of construction costs, also capped at 20%. However, the bill does not specify which agency will adopt the necessary rules for municipal eligibility criteria, raising concerns about clarity and implementation. The fiscal impact is expected to lead to an indeterminable decrease in General Fund and Education Trust Fund revenues, while potentially increasing local revenues from property taxes as data-center campuses are developed, though it may also strain local resources and infrastructure.