MI HB5779

Authorizes the state administrative board to convey the Mt. Pleasant Center main campus (304.62 acres) to the City of Mt. Pleasant for $1.00 consideration.

Authorizes conveyance of two parcels (cemetery/gravesites of 1.25 acres and six Indian school buildings on 7.61 acres) to the Saginaw Chippewa Indian Tribe of Michigan for $1.00 consideration.

If property is not conveyed within 180 days, the Department of Technology, Management, and Budget may sell remaining portions through competitive bidding, public auction, real estate brokerage, negotiated value-for-value deals, or sale to local government units.

Property conveyed for less than fair market value must be used exclusively for public purposes; the state retains right of reentry and repossession if property use violates this requirement and may recover 50% of profits if local government sells property within 10 years.

Net revenue from property sales deposits to the state general fund; the state retains rights to 50% of gross revenues from any oil, gas, or mineral development and reserves all aboriginal antiquities on the property.