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Senate legislative initiative would allow private land leases up to 99 years; sponsor says financial clauses protect locals
Summary
Senate Legislative Initiative 24-03 was introduced to amend Article 12 to increase private land lease terms from 55 to 99 years and to require financial clauses aimed at protecting persons of Northern Marianas descent; public commenters told the Senate the 99-year term is optional and the bill contains reevaluation provisions.
Senate Legislative Initiative (SLI) 24-03, introduced Oct. 3, 2025, would amend Article 12 of the Commonwealth’s constitution to allow private land leases to extend from the current 55-year limit up to 99 years and would require lease agreements to include financial clauses intended to protect persons of Northern Marianas descent from exploitation and to ensure a fair share of upside gains, sponsor Senator Castro said on the floor.
During the public-comment portion of the session, Derek Sasamoto of the Commonwealth Economic Development Authority said he…
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