Z-0456.3 _______________________________________________
SENATE BILL 5384
_______________________________________________
State of Washington 55th Legislature 1997 Regular Session
By Senators Prentice and Jacobsen; by request of Commissioner of Public Lands and Department of Natural Resources
Read first time 01/24/97. Referred to Committee on Natural Resources & Parks.
AN ACT Relating to condominium and cooperative leasehold interests in state-owned aquatic land; and adding a new section to chapter 79.90 RCW.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1. A new section is added to chapter 79.90 RCW to read as follows:
(1) The transaction costs of administering condominium and cooperative leasehold interests in state-owned aquatic lands are disproportionately high compared to the costs of administering other use authorizations, and such interests return diminished public benefits compared to other uses of state-owned aquatic land.
(2) Rents for all uses of state-owned aquatic lands that are authorized by the department of natural resources as condominium or cooperative leasehold interests shall be at fair market rental value to be determined by negotiation. Rents for condominium and cooperative leaseholds are established upon creation or renewal of such interests.
--- END ---