In 1990 Idaho lawmakers approved legislation protecting leaseholders on Priest Lake and Payette Lake from having their leases subject to public auctions.

Idaho Attorney General Lawrence Wasden challenged the law in 2010, arguing that an Idaho Constitution provision requring the Land Board to maximize financial return to the endowment fund held priority over the Legislature's attempt to shield the leases from competitive bidding.

The Idaho Supreme Court, according to a story in the Idaho Statesman, agreed with Wasden, with one justice writing the Land Board "has a constitutional obligation to maximize long-term financial returns" to the state.