House Bill No. 196 authorizes the commissioner of administration to lease a specific parcel of state property in Jefferson Parish to the Kenner Laketown Area Development Corporation. The property in question is approximately 8 acres of artificially elevated state-owned water bottom located north of the city of Kenner on the south shore of Lake Pontchartrain. The bill stipulates that 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 includes provisions for the commissioner of administration to enter into necessary agreements and execute relevant documents to facilitate the lease. The effective date of the Act is contingent upon the governor's signature or, if not signed, 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.