The bill authorizes the State of Texas to sell or lease specific real properties located in Austin, Texas. The General Land Office is tasked with offering for sale or lease a 20.3127-acre property at 4400 Shoal Creek Boulevard, with proceeds directed to a newly established bicentennial Texas State Library and Archives Commission fund. This fund will be used for capital improvements to the Sam Houston Regional Library and Research Center and the Lorenzo de Zavala State Archives and Library Building, as well as to enhance public access to original source materials. The sale or lease is contingent upon the construction and occupation of a new state records facility to replace the existing one.

Additionally, the Health and Human Services Commission is authorized to lease approximately 7.5 acres of property adjoining West 45th Street and Lamar Boulevard. Proceeds from this lease will be deposited into the Texas capital trust fund for the benefit of the commission. The lease must include provisions for the commission's approval of the lessee's proposed use and grant easements to adjacent commission properties. The bill is set to take effect on September 1, 2025.