New Hampshire addresses foreign ownership risks near military bases with new affidavit requirement

In a recent meeting of the New Hampshire House Commerce and Consumer Affairs Committee, lawmakers discussed a proposed bill aimed at enhancing national security by regulating property leases and purchases near military installations. The bill requires individuals leasing or purchasing property within ten miles of a military base to submit a notarized affidavit confirming they are not affiliated with foreign governments, particularly those deemed hostile.

The discussion highlighted concerns about the potential impact on the rental market, especially for short-term vacation rentals. Representatives expressed worries that the requirement for notarized documents could deter tourists and renters from choosing New Hampshire, with one lawmaker questioning whether the added bureaucracy would discourage vacation rentals altogether. The bill's proponents argued that the measure is necessary to prevent espionage and protect sensitive military operations.

A significant point of contention arose regarding the logistics of the affidavit process. Lawmakers debated whether requiring notarization for short-term rentals, such as those booked through platforms like Airbnb, would create unnecessary hurdles for potential renters. Some representatives suggested that a simpler attestation process might be more effective and less burdensome.

The committee also discussed the implications for real estate transactions, with concerns raised about the feasibility of tracking ownership structures of LLCs and the potential for civil liability if a property is found to be owned by a foreign entity. The New Hampshire Association of Realtors voiced opposition to the bill, citing the complexity it introduces into the real estate market and the potential for confusion among buyers and sellers.

As the meeting concluded, lawmakers acknowledged the need for a balance between national security and the economic implications of the proposed regulations. The bill is set to undergo further revisions as legislators seek to address the concerns raised during the discussion, aiming to ensure that New Hampshire remains an attractive destination for both residents and visitors while safeguarding its military interests.