MI SB0449

Authorizes the Department of Technology, Management, and Budget to convey two parcels of state-owned property located in Lansing, Ingham County, by quitclaim deed.

Property may be sold through publicly disclosed competitive methods or value-for-value conveyances, with conveyances requiring approval by the State Administrative Board or the department director.

Fair market value must be determined by independent fee appraisal or state appraiser; all deeds require approval by the Attorney General as to legal form.

Revenue from property sales must reimburse the department for costs including appraisals, administrative fees, environmental remediation, and legal fees, with any remaining revenue deposited in the general fund.

State retains rights to aboriginal antiquities on the property and receives one-half of gross revenue if oil, gas, or minerals are developed; state may reenter and repossess property if restrictions are violated.