HI SB2966

Authorizes the Board of Land and Natural Resources to require non-binding mediation for disputes over fair market value or rental of public lands in purchase, lease, repurchase, and lease reopening transactions.

Requires parties to attempt mediation by a mutually agreed-upon single mediator before proceeding to binding arbitration, with mediation costs split equally between parties.

Establishes binding arbitration through Chapter 658A as the final resolution method if mediation fails, conducted by a single mutually-agreed arbitrator with specific qualifications.

Requires complete appraisal reports and all comparables to be provided to the opposing party prior to mediation or arbitration and made available for public study.

Changes lease rental reopening procedures to allow either party to initiate arbitration and specifies that arbitration and mediation costs shall be borne equally by the lessee and the board.