This bill amends the existing law regarding the authority of selectmen to rent or lease town-owned real property. It introduces new provisions that require selectmen to obtain a vote from the legislative body for leases exceeding one year, with the maximum lease term extended to 99 years. Specifically, if a lease is for one year or less, selectmen can proceed without legislative approval. For leases longer than one year, a majority vote from the legislative body is necessary, unless the selectmen have been granted universal authority to lease property for up to five years without further action.

Additionally, the bill clarifies that the legislative body can authorize selectmen to lease any municipal property for terms of up to five years without needing further ratification. This universal authority remains in effect until it is rescinded by the legislative body at a duly warned meeting, ensuring that any leases established prior to such rescission remain valid. The bill is set to take effect 60 days after its passage, with the effective date being August 23, 2025.

Statutes affected:
Introduced: 41:11-a
As Amended by the House: 41:11-a
Version adopted by both bodies: 41:11-a
CHAPTERED FINAL VERSION: 41:11-a