The bill, S.B. No. 1012, authorizes the sale of certain real property owned by the State of Texas, specifically located in Austin, Texas. The General Land Office is tasked with offering the property for sale as soon as practicable after the bill's effective date, which is set for September 1, 2025. The proceeds from the sale will be deposited into the general revenue fund. Notably, the sale of the property at 4400 Shoal Creek Boulevard is contingent upon the construction and occupation of a new state records facility that will replace the current facility operated by the Texas State Library and Archives Commission.

The bill outlines two specific parcels of land to be sold: 20.3127 acres at 4400 Shoal Creek Boulevard and 7.5 acres of a 66-acre tract at 909 W. 45th Street, both located in Travis County. The General Land Office is required to negotiate and finalize the sale in accordance with existing laws under Section 31.158 of the Natural Resources Code.