This bill authorizes the conveyance of approximately 21.55 acres of land in Fall River, currently owned by the Massachusetts Department of Transportation (MassDOT), to the Fall River Redevelopment Authority. The land, which was previously used for highway purposes, is bounded by several streets and will be conveyed under specific conditions, including adequate compensation determined by an independent appraisal. The Fall River Redevelopment Authority is granted the authority to develop the land for various economic purposes without the need for an urban renewal plan, while also being responsible for all associated costs of the conveyance.

Additionally, the bill stipulates that if the conveyed land ceases to be used for the intended purposes, it will revert back to MassDOT. The consideration for the conveyance is set at $1 if the Commonwealth did not previously pay for the land; otherwise, it will be based on the net proceeds from any future sales or leases of the property. The bill also outlines the process for appraisal and review by the inspector general, ensuring transparency and accountability in the valuation of the land prior to the transfer.