16th section land; authorize local school board to grant an extension to holder of a long-term lease in good standing.

Longer leases for some school land leaseholders

Beginning July 1, 2025, the local school board may extend qualifying 99-year sixteenth-section land leases by up to 25 years. This authority covers the Broadway–West Pine redevelopment area in the municipality where Interstate 59 and U.S. Highway 49 intersect. The lease must be valid, with fewer than 30 years left on its original term. All original lease payments must be fully paid, with no related debt remaining. Extensions are not automatic: additional terms become an addendum to the original lease. Payment or other value given for the extension must be acceptable to the board and recorded in its minutes.