Lizama said Article 12, which restricts land ownership to people of NMI descent, does not necessarily deter investments in the CNMI.
House Legislative Initiative 16-4, which requires the approval of voters, will extend the term of private leaseholds from 55 to 75 years.
Lizama believes that the proposal will not change the investors’ perception of the CNMI.
In 2011, CNMI voters will have to decide whether to retain Article 12, and the issue could also come up before the U.S. Congress, he said.
The CNMI’s first congressional delegate, he added, must understand the historical background of Article 12 and foresee the ramifications of any changes to it.
“The delegate should be someone who understands and can represent the interests of the people of the commonwealth before Congress,” he said.
He said the current policies on condominiums are still not very accommodating to investors, which is why there is still no successful condominium project in the CNMI.
It is the law on condominium policies that should be addressed by the Legislature, the former judge said.
He said there should be no drastic changes to Article 12 which he wants to be extended for another 55 years after 2011.
The leadership of the islands, he said, should advocate a policy that gives the people of the commonwealth a sense of truly belonging to these islands.
But the local people are an accommodating people, he added, and may consider a special land policy for non-NMI descent individuals who have resided here for several years already.
Still, he added, any policy affecting Article 12 should be decided by the people and not used as a negotiating or political bargaining chip.
“To say that Article 12 is the key to economic downfall is absurd,” he said.
