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

This bill amends Idaho state law to extend the maximum lease terms for commercial purposes on state endowment lands from 20 years to 49 years. It directly affects the State Board of Land Commissioners, which manages these lands, and potential commercial lessees such as businesses and developers. The legislation defines commercial purposes to include energy production facilities, retail outlets, office buildings, hospitality enterprises, and multifamily residential developments, while excluding farming, grazing, oil and gas, and mineral leases. Key provisions require the board to consult with county commissioners before issuing leases longer than 20 years, hold public hearings in the affected counties, and ensure rental amounts reflect fair market value. The bill also establishes specific rules for lease applications, renewal processes, and the handling of improvements made on leased land.