This bill authorizes the Division of Capital Asset Management and Maintenance to convey specific parcels of land to the towns of Bolton and Lancaster, or to a municipal utility serving these towns. The parcels include a portion of the former Lancaster Industrial School for Girls and the Bolton dam, with the conveyance being subject to certain conditions. The town of Bolton is permitted to enter into agreements to acquire these parcels, which must be used solely for general municipal purposes. A reversionary clause is included, allowing the Commonwealth to reclaim the land if it ceases to be used for these purposes. The fair market value of the parcels will be determined by an independent appraisal, which must be reviewed by the inspector general before the conveyance can proceed.

Additionally, if the town of Bolton does not complete the purchase within 180 days, the commissioner may sell or lease the parcels through a competitive bidding process. The bill also allows for the conveyance of land for well or wellhead protection purposes to either town or a municipal utility, with the possibility of nominal consideration if deemed necessary for housing development. The bill emphasizes that the Commonwealth will not be liable for any claims related to the condition of the parcels after the sale or lease. All proceeds from the sale of the parcels will be deposited into the General Fund.