The bill amends and reenacts Sections 2 and 3 of Act No. 57 from the 2021 Regular Session of the Louisiana Legislature, focusing on the transfer of certain state property in Orleans Parish. It authorizes the president of the University of Louisiana System and the commissioner of administration to enter into agreements for the conveyance of property, including provisions for installment purchases over multiple years, while excluding mineral rights. Additionally, The Ogden Museum of Southern Art, Inc. will be credited for any maintenance or improvements made to the property when determining appropriate consideration for the transaction.

Furthermore, the bill stipulates that all proceeds from the sale of the property will be credited to the University of New Orleans for its discretionary use. The authority granted by this Act will now terminate on June 30, 2028, extending the original deadline. The Act will take effect upon the governor's signature or after the designated period for bills to become law without a signature.