SB621

Hawaii SB621 amends public land lease regulations, requiring public auctions for lease renewals and modifying lease extension terms.

Hawaii SB621 amends the state's public land lease regulations by requiring the Board of Land and Natural Resources to dispose of land by public auction within three years before the termination of each lease. The auction upset price will be the greater of the current rent or the fair market rent. The bill also modifies lease extension terms, allowing extensions for leases not assigned or transferred within ten years prior to an application submission.