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Committee advances bill to give Land Board 10 years to reinvest proceeds from land sales
Summary
The committee voted to send House Bill 129 to the floor with a due-pass recommendation. The bill would change the Land Bank reinvestment deadline from five years to 10 years, allowing more time for the Board of Land Commissioners and Department of Lands to identify and acquire replacement endowment land.
Representative Alana Rubel, District 18, told the committee House Bill 129 would change “one word” in statute — extending the Land Bank reinvestment window from five years to 10 years.
The bill affects proceeds from the sale of state endowment land. Under current law those proceeds must be used to buy replacement endowment land within five years or else roll permanently into the state permanent endowment fund, where they cannot later be used to acquire land. “This just gets a little bit more breathing room for the Department of Lands and the Land Board to identify investments if they wish,” Rubel said.
Representative John Van der Rada (District 22) said he has seen “a lot of money roll into the permanent endowment fund and never be used again” and supported the change, noting land prices have been rising and a longer window might allow purchases if market conditions become favorable. Representative Miller and others asked why reinvestment could not be required rather than optional.
Representative Van der Rada and other supporters responded that the Land Board is an executive function made up of constitutional officers and is charged with deciding purchases; the bill simply extends the deadline, it does not compel purchases.
The Idaho Conservation League’s Jonathan Oppenheimer testified in support, saying investing in land “helps to smooth out some of the turbulence and volatility in the market” and that endowment lands supply predictable timber revenue for some counties.
The committee moved House Bill 129 to the House floor with a due-pass recommendation. The motion carried with a voice vote; the transcript records no roll-call tally.
Closing remarks emphasized that the change is optional for the Land Board — if the board decides it is better to roll proceeds into the permanent fund, it may continue to do so.
