HI HB1141

Requires lease extensions approved by the Board of Land and Natural Resources to be drafted on the most current approved lease form and subject to the board's current leasing practices and policies.

Establishes that when conflicts arise between updated lease terms authorized under Chapter 171 and existing lease terms, the updated terms shall control.

Applies to all leases issued under Chapter 171, regardless of whether they were issued by public auction or direct negotiation.

May allow the board to impose removal bonds to ensure outdated improvements are removed from leased premises at lease expiration or early termination.

Takes effect July 1, 2040.