The two boys were waiting in their driveway with their mother, about to board their stopped school bus in Gilford when a car sped by, despite the bus driver having the stop sign out.
The 7-year-old jumped back and was not hurt. The driver never stopped.
Police say they are trying to learn more about the driver of the car.
They also stress that drivers need to follow the law and stop for school buses.
The child's family released the video