SB 1252 Summary

• Authorizes the Board of Land and Natural Resources to approve lease rental reductions or waivers of up to 20 years for public land leases requiring substantial demolition costs or infrastructure improvements (drainage, sewer, water, electricity, and related utilities).

• Applies to leases for resort, commercial, industrial, other business, or residential purposes where lessees must demolish existing improvements or provide basic infrastructure before productive use of the land.

• Rental reduction or waiver amount cannot exceed the lessee's total expenditures for demolition or infrastructure provision costs.

• Temporarily increases the existing authority limit from one year of rent reduction (for commercial/industrial use) to up to 20 years for qualifying projects with substantial infrastructure or demolition needs.

• Takes effect December 31, 2050 and repeals June 30, 2024, restoring prior law unless extended by the legislature.