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Committee advances bill to extend land-bank reinvestment deadline from five to 10 years
Summary
The Idaho House Resources & Conservation Committee voted to send House Bill 129 to the House floor with a due-pass recommendation. The bill would extend the time the state land bank may hold proceeds from endowment land sales before rolling the funds into the permanent endowment fund from five years to 10 years.
House Bill 129, which would extend from five to 10 years the period during which proceeds from state endowment land sales may be held and reinvested by the land bank, moved out of the House Resources & Conservation Committee on a voice vote Friday.
The bill’s sponsor, Rep. Alana Rubel, D-18, told the committee the change would give the Idaho Land Board and the Department of Lands more time to identify candidate parcels that meet the board’s required return thresholds and to consolidate holdings adjacent to existing endowment…
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