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House approves 10-year window for land-bank reinvestment, sending bill to Senate
Summary
The Idaho House on Feb. 20 approved House Bill 129, extending the period the state may hold land-sale proceeds from five to ten years, a change supporters said gives the State Land Board more time to find replacement public lands for the endowment fund.
BOISE, Idaho — The Idaho House on Feb. 20 passed House Bill 129, a measure that extends from five years to ten years the period the state’s land bank may hold proceeds from sales of endowment land before reinvesting those proceeds in other public lands. The bill passed on a roll call of 47 ayes to 21 nays, with 2 recorded abstentions.
Supporters told colleagues the extra time gives the Idaho Department of Lands and the State Land Board more opportunity to find suitable replacement parcels at prices that make sense for the endowment’s beneficiaries, chiefly public schools. “The land board needs a longer option…
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