This bill introduces a new section to RSA 354-A, titled "Business Entity-Owned Residential Arrangements," which prohibits residential property developments from imposing restrictions on land or rental sales based on certain criteria. The bill defines key terms such as "business entity," "managing entity," "residential arrangement," and "residential property," and clarifies that it does not apply to timeshare plans. It mandates that agreements for purchasing interests in managing entities must disclose that the purchase is for an interest in the entity rather than the residential property itself. Additionally, it stipulates that disputes must be resolved in courts established under state or federal law, and it prohibits managing entities from taking actions that would violate fair housing laws if the interest were considered real property.

Furthermore, the bill allows owners of interests in managing entities to transfer their interests without needing approval from the managing entity and prohibits the managing entity from charging fees or sharing in proceeds from such transfers. Violations of this section are classified as deceptive trade practices under RSA 358-A. The bill is set to take effect 60 days after its passage and is expected to have indeterminable fiscal impacts on state and local expenditures due to potential changes in the judicial and correctional systems.