MS HB669

Amends Mississippi Code Section 29-3-81 to allow existing agricultural leaseholders on sixteenth section lands to re-lease the land on up to two occasions instead of one, with rent at no less than 120% of the existing lease value.

Permits existing leaseholders to submit a second bid matching or exceeding 105% of the highest acceptable bid received, provided they submitted an initial bid and made improvements to the property during the lease term.

Requires the board of education to hold an auction if an existing leaseholder elects to submit a second bid, with the leaseholder's second bid as the opening bid for the auction.

Prohibits leaseholders from submitting a second bid if they have past-due rent, taxes, or other payments, or are in default of lease terms for more than 30 days after notice.

Takes effect July 1, 2018.