SB 1075 Summary

• Authorizes the Department of Technology, Management, and Budget to convey or transfer approximately 124.6 acres of state-owned property in Marenisco Township, Gogebic County that is under the Department of Corrections' jurisdiction.

• Permits conveyance through competitive sale, sale to local units of government, transfer to the state land bank authority, jurisdictional transfer between state agencies, property exchange, or discounted sale to local governments with public use restrictions.

• Requires any sale for fair market value to be determined by independent appraisal and must be approved by the state administrative board.

• Imposes a 30-year public use restriction on discounted sales to local governments, requiring the property be used exclusively for public purposes with no restrictions on who can use it; if the local government sells within 30 years, the state has 120 days to repurchase at the original price.

• Reserves to the state one-half of gross revenue from any oil, gas, or mineral development on the conveyed property, payable to the general fund; net proceeds from sales are deposited in the general fund.