MS HB1221

School board leases of sixteenth section lands are presumed valid upon execution after board of supervisors approval; Secretary of State approval is not required before lease execution but Secretary of State may challenge the lease in chancery court within 30 days by demonstrating it is unconscionable or otherwise invalid.

School board members acting in good faith are immune from individual liability associated with entering into such leases.

Former leaseholders or their immediate family members of sixteenth section lands previously classified as farm residential before being reclassified as forest land may elect to again lease the land as farm residential at fair market rental value determined by appraisal.

Leaseholders may file complaints with the Attorney General regarding alleged wrongdoing by the board of education or Secretary of State in managing sixteenth section lands; the Attorney General must develop a complaint form for public use.

Eliminates requirement that sixteenth section lands be classified based on highest and best use; requires appraisals on residential, farm-residential, recreational, catfish farming or other lands at least once every five years; and permits farm residential leaseholders to transfer leasehold interests without board approval.