The bill proposes appropriations for the fiscal year ending September 30, 2026, aimed at financing capital outlay projects for the demolition, construction, renovation, or equipping of buildings and facilities on state property, as well as properties owned by institutions of higher education and community colleges. The total gross appropriation is set at $2,400, with the state general fund/general purpose contributing the entire amount. The bill outlines specific projects at various universities and community colleges, detailing estimated costs and the respective shares from state and university resources.

Additionally, the bill includes provisions for state building authority financed construction authorizations, which involve leasing facilities for public purposes. It also decreases the cost of a previously authorized project at Michigan Technological University by $1,514,800, adjusting the total project cost to $51,585,200. The bill emphasizes the legislature's intent to ensure sufficient annual appropriations to meet lease obligations for these facilities.