The bill modifies the regulations surrounding cash basis competitive bidding for state land agricultural leases in Montana. Key amendments include changes to the bid deposit requirements, where the amount required for agricultural land is now specified as $20 per acre, and the successful bidder's deposit will be applied to the first year's rental only. Additionally, the bill clarifies that if a bid is found to be frivolous or in bad faith, the deposit will be forfeited, and the department must notify the bidder of the reasons for forfeiture.

Furthermore, the bill establishes that agricultural leases issued through competitive bidding must be based on cash lease terms rather than crop share, with a minimum annual guarantee set at $15 per acre. It also outlines the conditions under which agricultural leases can be renewed and specifies the penalties for late rental payments. Notably, the bill allows for the reinstatement of canceled leases under certain conditions, ensuring that the penalties collected are deposited into the same trust account as the rentals from the state land.

Statutes affected:
LC Text: 77-6-203, 77-6-501, 77-6-506
HB0080_1(1): 77-6-203, 77-6-501, 77-6-506
HB0080_1(2): 77-6-203, 77-6-501, 77-6-506
HB0080_1(3): 77-6-203, 77-6-501, 77-6-506
HB0080_1(4): 77-6-203, 77-6-501, 77-6-506
HB0080_1(5): 77-6-203, 77-6-501, 77-6-506
HB0080_1(6): 77-6-203, 77-6-501, 77-6-506
HB0080_1(7): 77-6-203, 77-6-501, 77-6-506
HB0080_1: 77-6-203, 77-6-501, 77-6-506
HB0080_2(1): 77-6-203, 77-6-501, 77-6-506
HB0080_2(2): 77-6-203, 77-6-501, 77-6-506
HB0080_2(3): 77-6-203, 77-6-501, 77-6-506
HB0080_2(4): 77-6-203, 77-6-501, 77-6-506
HB0080_2(5): 77-6-203, 77-6-501, 77-6-506
HB0080_2(6): 77-6-203, 77-6-501, 77-6-506
HB0080_2: 77-6-203, 77-6-501, 77-6-506
HB0080_X(1): 77-6-203, 77-6-501, 77-6-506
HB0080_X(2): 77-6-203, 77-6-501, 77-6-506
HB0080_X(3): 77-6-203, 77-6-501, 77-6-506
HB0080_X(4): 77-6-203, 77-6-501, 77-6-506
HB0080_X(5): 77-6-203, 77-6-501, 77-6-506
HB0080_X(6): 77-6-203, 77-6-501, 77-6-506
HB0080_X: 77-6-203, 77-6-501, 77-6-506