This bill, SB 162-FN, establishes stringent restrictions on foreign principals from designated "countries of concern"—namely China, Russia, Iran, Syria, and North Korea—regarding their ability to acquire or lease real property within 10 miles of certain protected military facilities in New Hampshire. It introduces new legal language under RSA 477, including definitions for "foreign principal," "protected facility," and "real property." The bill prohibits these foreign entities from acquiring or leasing such properties and requires any prospective buyer or lessee to submit a notarized affidavit to the attorney general's office, affirming their eligibility and understanding of the associated prohibitions and penalties. A new section, 477:4-i, is added to RSA 477, mandating that sellers and landlords inform buyers and tenants of the affidavit requirement in any property agreements.

The legislation also outlines criminal penalties for violations, classifying illegal acquisitions as a Class A misdemeanor for individuals and a Class B felony for entities. The attorney general's office is granted the authority to pursue forfeiture actions against properties acquired in violation of these restrictions. Civil penalties are also established for failing to submit the required affidavit, with a $500 fine for individuals and stricter consequences for entities. The bill aims to bolster national security by mitigating foreign influence near critical military installations and is set to take effect on January 1, 2026. While it may lead to increased judicial costs for the state and local governments, it does not anticipate any changes in revenue.