Purpose
To simplify the method under which fees are assessed for the use of sovereignty submerged lands; to change the standard sovereignty submerged land lease term; and to clarify, add, or delete definitions related to fees and lease terms. These rule amendments will create criteria to be used in fee calculations and eliminate the requirement to report and submit six percent of the income generated on sovereignty submerged lands. The amendments will also increase the standard term for a sovereignty submerged land lease to ten years and clarify any definitions affected by the rule changes.