This bill authorizes the commissioner of administration to lease certain state property in Jefferson Parish to the Kenner Laketown Area Development Corporation. The property in question is an approximately 8-acre parcel of artificially elevated state-owned water bottom located north of the city of Kenner on the south shore of Lake Pontchartrain, specifically in the Laketown area. 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 provides for the necessary agreements, covenants, conditions, and stipulations to be established to effectuate the lease. The effective date of the Act 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.