Property: conveyance of state property; transfer of certain state-owned property in Eaton County; provide for. Creates land transfer act.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill authorizes the state of Michigan to transfer a specific parcel of state-owned land in Eaton County to the Michigan Police Equipment Company. The transfer will eliminate an encroachment by the company’s buildings on state land and is intended to occur at fair market value, plus state costs. Revenue generated from the sale will be split with the company, with half going to the state’s general fund, and all proceeds will be deposited into the state treasury.
Key provisions
- The State Administrative Board can convey the property to the Michigan Police Equipment Company.
- The conveyance must occur at fair market value plus state costs.
- A fee appraiser will determine the property’s fair market value.
- The property includes all existing improvements and surplus items.
- The conveyance will be secured by a quitclaim deed approved by the Department of Attorney General.
- The Michigan Police Equipment Company must pay the state 1/2 of revenue from oil, gas, or mineral development.
- Net revenue from the sale will be deposited in the general fund after covering associated costs.
- The state reserves the right to explore and excavate aboriginal antiquities on the property.
Who is affected
- Michigan Police Equipment Company
- State Administrative Board
- Department of Technology, Management, and Budget
- Department of Attorney General
Bill text
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Document of record
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- House Concurred Bill
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Sponsors
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1 on record
Primary sponsor
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