Idaho Bills

Amends existing law to extend the length for commercial leases on endowment lands.

RS33721 / S1413 This legislation amends Idaho Code to increase the maximum allowable term for certain commercial leases on state endowment lands from forty-nine (49) years to ninety-nine (99) years. Longer lease terms provide greater certainty for businesses making substantial capital investments on leased land. Many commercial projects require significant up-front infrastructure and construction costs that cannot be reasonably recovered within a forty-nine-year lease term. Extending the allowable lease term to ninety-nine years will make these projects more financially viable and competitive with similar opportunities in neighboring states. By improving the marketability and financeability of leases on state endowment lands, this change is expected to encourage additional commercial development while helping the State Land Board maximize long-term revenues for Idaho's endowment beneficiaries, including public schools and other institutions.