The bill amends several sections of the Revised Code of Washington (RCW) to expand the authority of the Department of Natural Resources regarding the leasing of state lands and trust assets. Key insertions include the ability to lease trust assets deemed temporarily available for use on nonstate land, and the stipulation that trust assets may be leased for a maximum of 20 years. Additionally, the bill clarifies that leases for state lands and trust assets must specify the intended use, improvements required, and payment terms, while also allowing for negotiations and public auctions for lease agreements.

The amendments also update the maximum lease durations for various purposes, such as extending agricultural leases to 25 years and commercial leases to 55 years, with certain exceptions allowing for longer terms. The bill emphasizes the need for fair market value appraisals and includes provisions for periodic rental reevaluation for leases extending beyond 55 years. Overall, the legislation aims to enhance the management and leasing processes of state lands and trust assets, ensuring they are utilized effectively for the benefit of trust beneficiaries and the state.

Statutes affected:
Original Bill: 79.13.010, 79.17.200, 79.13.060, 76.04.021, 79.13.120, 79.13.130, 79.13.140