ID H0547

Amends exploration location requirements for mineral rights on Idaho state lands, including beds of navigable rivers, and clarifies that locators must perform $100 worth of work annually for two years to maintain locations.

Revises mineral lease terms to allow leases for up to 20 years on state lands (excluding oil, gas, hydrocarbons, and geothermal resources), with continuation possible if minerals are produced, prepaid royalties of at least $5.00 per acre annually are negotiated, exploration or mining operations are conducted, regulatory approval is pending, or adjacent mining operations are underway.

Establishes new lease terms and conditions including prohibition of additional fees beyond royalty and rent payments, rent indexed to inflation at no more than 3% annually, limitation to one lease per mineral per land parcel, and requirement that lease terms be fairly modified no less than 180 days before expiration with mandatory good faith mediation if agreement cannot be reached.

Clarifies forfeiture provisions allowing the state board to cancel leases after 30 days' notice for violation of lease terms, and specifies that failure to accept readjustment of terms results in forfeiture of preferential renewal rights.

Declares the act severable and establishes an emergency effective date for immediate implementation upon passage and approval.