This bill establishes a new procedure for transferring plenary retail consumption licenses, typically held by bars and restaurants, when land is annexed from one municipality to another. Specifically, it mandates that any such license associated with premises on annexed land be transferred to the governing body of the municipality that annexes the land. Additionally, the bill allows the municipality losing land to issue a new plenary retail consumption license at public sale to replace the one that was transferred.

Furthermore, the bill removes the existing population limitation that restricts municipalities from issuing more than one plenary retail consumption license for every 3,000 residents. This means that licenses transferred or newly issued under this bill would not be subject to that population cap, thereby providing greater flexibility for municipalities in managing their alcoholic beverage retail licenses. The act is set to take effect immediately upon passage.