Chamber president Douglas Brennan, in a letter to Sen. Luis P. Crisostomo, Ind.-Saipan, said the chamber also recognizes the potential investment opportunity through decreasing the blood quantum level from its current quotient in corporations holding CNMI leasehold interest.
Under Article XII of the CNMI Constitution, only persons of NMD descent can own and buy land in the Northern Marianas.
Brennan said investment in the CNMI will be enhanced by abolishing Article XII.
“The chamber believes that S.L.I. 17-9 will only potentially decrease the economic impact of Article XII as a deterrent to investment in the CNMI. Abolish Article XII for the economic harm it continues to place upon future interest,” Brennan said.
Introduced by Crisostimo, S.L.I. 17-9 will extend the maximum number of years that non-NMD persons can lease land from 55 to 99 years.
The chamber also sent a separate letter to Vice Speaker Felicidad T. Ogumoro, Covenant-Saipan, author of H.L.I. 17-3 which will change the definition of “person of NMI descent.”
It allows a person with at least a certain degree of blood quantum of at least 1 percent to qualify as a person of Northern Marianas descent.
Brennan said this is an improvement to the current 25 percent or one-quarter blood requirement.
However, he added, “simply amending the blood quantum level does not address the primary problem with the current restrictions under Article XII itself.”
He reiterated that investment opportunities would be enhanced through the absolute abolishment of Article XII.
A legislative initiative is a proposed constitutional amendment. It must be passed by three-fourths of the members of each house before it can be placed on the ballot. Voters will then decide whether to ratify or reject it.
It does not require the governor’s approval.
