The bill authorizes the state administrative board to convey state-owned property located in Jackson County, specifically the former Dalton Road Landfill site, under certain conditions. It defines key terms such as "fair market value," "net revenue," and "public use," and establishes that the property must be used exclusively for public purposes. Jackson County is given the first right to purchase the property for $1.00 within two years of the bill's effective date. If the property is sold to other local governments, it must also adhere to specific conditions, including public use restrictions and reimbursement for costs incurred by the state.

The bill outlines the procedures for the conveyance of the property, which may include competitive bidding, public auctions, or negotiations to ensure the best value for the state. It also stipulates that any revenue generated from the sale must be deposited into the state treasury and credited to the general fund. Additionally, the bill reserves certain rights to the state regarding oil, gas, and mineral development, as well as aboriginal antiquities found on the property. If the property is misused, the state retains the right to reenter and reclaim it.