The bill authorizes the state administrative board to convey state-owned property located in Wayne County, specifically the former sites of the Mound and Ryan Correctional Facilities in Detroit. The property, which encompasses approximately 96.14 acres, can be sold through various means, including competitive bidding, public auction, or real estate brokerage services, all aimed at achieving the best value for the state. The City of Detroit is given the first right to purchase the property for $1.00 within two years of the bill's effective date, with specific conditions attached to the sale, including the requirement that the property be used exclusively for public purposes.

Additionally, the bill outlines the responsibilities of the department of technology, management, and budget regarding the conveyance process, including the need for a fair market value appraisal for any sales not made to the City of Detroit. It also stipulates that any revenue generated from the sale must be deposited into the state treasury and credited to the general fund. The bill includes provisions for the state to retain certain rights over the property, such as the right to reenter if the property is used in violation of the established restrictions, and it reserves rights to any aboriginal antiquities found on the land.