This bill authorizes the state administrative board to convey or transfer state-owned property located in Sanilac County, specifically in the village of Peck. It outlines the conditions for such conveyance, including the definition of "fair market value" and "net revenue," as well as the responsibilities of state departments and agencies involved in the process. The property must first be offered to the village of Peck for purchase at fair market value, and if not acquired, the department of technology, management, and budget may pursue various methods for sale, including competitive bidding and public auctions. The bill also stipulates that the property must be used exclusively for public purposes and includes provisions for the reversion of the property to the state if these conditions are violated.

Additionally, the bill specifies that any revenue generated from the sale of the property will be deposited into the state treasury and credited to the general fund. It includes provisions for the maintenance of any historical or protected aspects of the property and reserves certain rights to the state regarding aboriginal antiquities and mineral rights. The conveyance process is subject to legal approval, and the bill ensures that the state is not liable for any improvements made to the property after the transfer.