Senate Bill No. [insert bill number] authorizes the president of Louisiana Tech University, with the approval of the Board of Supervisors for the University of Louisiana System, and the commissioner of administration to transfer a specific parcel of state property located in Caddo Parish to the Caddo Parish School Board. The property in question is described as Lot 1 of the Shreve Park Industrial Campus, and the transfer will exclude mineral rights, which will be reserved for the state. The bill outlines the necessary agreements and documents that must be executed to facilitate this transfer, ensuring that the transaction reflects the appraised value of the property.

The bill will take effect upon the governor's signature or, if not signed, upon the expiration of the time for bills to become law without the governor's signature. If the bill is vetoed and later approved by the legislature, it will become effective the day after such approval. This legislation aims to streamline the process of transferring state property to local educational authorities while maintaining the state's mineral rights.