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 or transfer, including the definition of "fair market value" and "net revenue," which refers to the proceeds from the sale after deducting associated costs. The bill stipulates that the village of Peck has the first right to purchase the property at fair market value for two years following the bill's effective date. If the property is not sold to the village, the department of technology, management, and budget may utilize various methods, such as competitive bidding or public auctions, to ensure the best value for the state.

Additionally, the bill includes provisions regarding the use of the property, mandating that it must be used exclusively for public purposes and detailing the responsibilities of the local government if they acquire the property. It reserves certain rights to the state, such as the right to reclaim the property if the new owner violates the usage restrictions. The bill also specifies that any revenue generated from the sale must be deposited into the state treasury and credited to the general fund. Overall, the legislation aims to facilitate the transfer of state property while ensuring it serves the public interest.