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 an approximately 8-acre artificially elevated water bottom located north of the city of Kenner on the south shore of Lake Pontchartrain. 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 allows the commissioner to enter into necessary agreements and execute documents to facilitate the lease. The effective date of the Act will be upon the governor's signature or, if not signed, after the designated period for bills to become law without signature. If the governor vetoes the bill and it is later approved by the legislature, it will take effect the day after that approval.