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ID H0129

Bill

Official Source

Status

Engrossed

2/20/2025

Primary Sponsor

Resources and Conservation Committee

Click for details

Origin

House of Representatives

2025 Regular Session

AI Summary

  • Extends the maximum time proceeds from state endowment land sales can be held in the land bank fund from 5 years to 10 years from the effective date of sale
  • Proceeds not encumbered to purchase replacement land within the state by the end of the tenth year must be deposited into the permanent endowment fund of the respective endowment
  • The legislature retains authority to extend the holding period beyond 10 years
  • Declared an emergency measure with an effective date of July 1, 2025

Legislative Description

Amends existing law to extend the time that proceeds can be held in the land bank fund.

LAND BANK FUND

Last Action

Reported out of committee; to 14th Order for amendment

3/10/2025

Committee Referrals

Resources and Environment2/21/2025
Resources and Conservation2/5/2025

Full Bill Text

No bill text available