This bill amends the existing laws regarding the escrow of deposits in land sales and condominium transactions. It allows the Department of Justice's Consumer Protection and Antitrust Bureau to authorize the preclosing use of a portion of a deposit held in escrow for specific purposes, including customizations, upgrades, change orders, and similar items. The new legal language inserted into RSA 356-A:9-a and RSA 356-B:57 specifies that, notwithstanding the requirement for deposits to be held in escrow until closing, the bureau may permit the use of these funds under certain conditions.

The bill does not provide additional funding or authorize new positions within the Department of Justice, but it is expected to increase expenditures due to the additional time required for attorneys and paralegals to review applications related to these preclosing uses. The estimated costs for hiring an additional paralegal and attorney to manage the anticipated increase in requests are projected to be around $215,000 in FY 2026, increasing slightly in subsequent years. However, the overall fiscal impact remains indeterminable as it is unclear how many requests will be received.

Statutes affected:
Introduced: 356-A:1, 356-B:3
As Amended by the Senate: 356-A:1, 356-B:3, 356-B:57
As Amended by the House: 356-B:57
Version adopted by both bodies: 356-B:57