AK HB353

Creates a new agricultural land leasing program allowing the state to lease parcels of 5-320 acres classified for agricultural use, with leases renewable for up to 20 years and revenue directed to the agricultural revolving loan fund

Establishes a lease-to-purchase pathway where lessees who use land for agricultural purposes for a prescribed period may apply to buy the land, with potential credit toward the purchase price for lease payments made

Requires competitive bidding process for agricultural land sales and leases, with the commissioner prioritizing proposals likely to make the greatest contribution to in-state agricultural production over highest monetary offers

Defines "agricultural purposes" broadly to include commercial crop and livestock production, dairying, greenhouses, hydroponic facilities, soil improvements, and agri-tourism activities such as farm tours

Mandates performance bonds from purchasers and lessees to ensure compliance with agricultural use requirements and land restoration if abandoned, with effective date of July 1, 2026