House Bill No. [insert bill number] 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. 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 documents to facilitate the lease. The effective date of the bill is contingent upon the governor's signature or, if not signed, the expiration of the time for bills to become law without the governor's signature. The bill also emphasizes the reservation of mineral rights, ensuring that these rights remain with the state despite the lease of the property.