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Committee hears marinas and DNR support switching aquatic-lease inflation index from PPI to CPI
Summary
House Bill 17-58 would change the inflation index used to adjust annual rent for water‑dependent aquatic land leases from the Producer Price Index to the Consumer Price Index. DNR and marina operators told the committee the change would smooth year‑to‑year volatility in rents and provide predictability for lessees and state revenue.
House Bill 17-58 drew in‑person and remote testimony from marina operators, the Department of Natural Resources and industry groups on Feb. 12, as the House Agriculture and Natural Resources Committee considered whether to change the inflation index used to set annual rent for water‑dependent aquatic land leases.
Lily Smith, staff to the committee, summarized that current statute uses the Producer Price Index (PPI) to adjust lease rents while aquatic easement rates are adjusted under the…
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