HB 5725 Summary

• Amends the Management and Budget Act to establish procedures for the Department of Management and Budget to convey state-owned surplus real property through quitclaim deed or affidavit of jurisdictional transfer, subject to board approval.

• Excludes property under jurisdiction of the state transportation department, institutions of higher education, department of natural resources, and department of military and veterans affairs from the conveyance provisions.

• Authorizes multiple conveyance methods including competitive public sale, sale to local government units (at fair market value or reduced rates with public use restrictions for 30 years), land bank transfers, inter-agency jurisdictional transfers, property trades, and exchanges with the Attorney General's legal approval.

• Requires state to receive one-half of gross revenue from any oil, gas, or mineral development on conveyed property, and reserves all aboriginal antiquities and historical monument/wildlife habitat protections in perpetuity; permits state reentry and repossession for violation of restrictions.

• Deposits net revenue from property sales into the state general fund after deducting department costs including administrative expenses, environmental remediation, appraisals, legal fees, and litigation costs.