This bill amends the existing law regarding the management and leasing of town-owned real property by the selectmen. It introduces new provisions that require selectmen to obtain a vote from the legislative body for any lease agreements 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. However, for leases longer than one year, a majority vote from the legislative body is necessary to authorize the lease. Additionally, if the legislative body grants universal authority, selectmen can lease property for up to five years without further votes.

The bill also clarifies that any existing leases prior to the enactment of this law will not be affected by these changes. The new legal language replaces the previous requirement that any rental or lease agreement for more than one year must be ratified by a town vote. The effective date of the bill is set for 60 days after its passage, which is 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