Section 5069.3 - Rent; term of lease; approval by Department of General Services; taxes(a) The rent for any real property leased for agricultural purposes shall be based upon the fair market value of the real property when used for agricultural purposes. All rents shall be deposited pursuant to Section 5010.(b) A lease term may not exceed 10 years. Leases may be renewed for additional terms.(c) Every lease entered into pursuant to this article shall be subject to approval by the Department of General Services. Every lease shall require the lessee to pay the taxes on the lessee's interest in the real property which become due, owing, or unpaid on the interest created by the lease.Ca. Pub. Res. Code § 5069.3
Amended by Stats. 1985, Ch. 1087, Sec. 2.5.