This bill authorizes the commissioner of administration to lease a specific parcel of state-owned property in Jefferson Parish to the Kenner Laketown Area Development Corporation. The property in question is approximately 8 acres of artificially elevated water bottom located north of the city of Kenner on the south shore of Lake Pontchartrain, which is part of the existing Office of State Lands Lease #1298. The lease will exclude mineral rights and can have a term of up to ninety-nine years, with the lease agreements to be executed in exchange for consideration that reflects the appraised value of the property.

Additionally, the bill outlines that the commissioner of administration is empowered to enter into necessary agreements and execute documents to facilitate the lease. The effective date of the bill will be upon the governor's signature or, if not signed, upon the expiration of the time for bills to become law without signature. If the bill is vetoed and later approved by the legislature, it will take effect the day after such approval.