MI SB1149

Authorizes the state administrative board to convey state-owned property known as the Farnum building located in Lansing, Ingham County, consisting of two parcels in Block 115 of the Original Plat of the City of Lansing.

Requires fair market value appraisal by an independent appraiser and permits the director of the Department of Technology, Management, and Budget to use competitive bidding, public auction, real estate brokerage services, local government sales, or conveyance to a land bank authority to sell the property.

Conveys property free of oil, gas, and mineral rights to the state, but reserves the state's right to receive one-half of gross revenue if the purchaser develops any oil, gas, or minerals on the property.

Reserves all aboriginal antiquities including mounds, earthworks, forts, burial sites, and village sites to the state, with authority to enter the property for exploration and excavation.

Directs revenue from the sale be used to reimburse the Department of Technology, Management, and Budget for Senate relocation costs and sale-related expenses, with remaining revenue deposited in the general fund.