HB2755

THE CONTEXT: Established in 1915, the Arizona State Land Department (ASLD) currently manages approximately 9. 2 million acres of State Trust lands which were granted to the state at statehood.

WHAT THE BILL DID: of generating revenue for the 13 state land beneficiaries. The ASLD is not a regulatory agency but is the trustee of the state's trust land and its natural resources ( ASLD ).

WHY IT MATTERED: The practical reason for this bill was to give the people who rely on the rule clearer information and a defined reporting process. It would require ASLD, for a lease renewal of an underperforming commercial lease, to provide ample notice to a lessee prior to termination of the lease, and would also require the Commissioner to prioritize the sale of state lands that are subject to an underperforming commercial lease, if the lessee provides notice to the ASLD that the lessee if willing and prepared to purchase the parcel in fee simple consistent with this legislation, rather than leave the current rule unchanged.