This bill amends Section 58-133 of the Idaho Code to extend the duration for which proceeds from the sale of state endowment land can be held in the land bank fund. Specifically, the bill changes the maximum holding period from five years to ten years. If the proceeds are not used to purchase other land by the end of the tenth year, they will be deposited into the permanent endowment fund of the respective endowment, along with any earnings, unless the legislature decides to extend the holding period.

Additionally, the bill declares an emergency, allowing it to take effect on July 1, 2025. This change aims to provide more flexibility for the state board of land commissioners in managing land sales and acquisitions, ultimately benefiting the beneficiaries of the endowment.

Statutes affected:
Bill Text: 58-133