Bill
HB 4724
Overview: HB 4724 - Property: conveyance of state property; transfer of certain state-owned property in Kent County; provide for. Creates land transfer act.Purpose and Intent: The
Overview: HB 4724 - Property: conveyance of state property; transfer of certain state-owned property in Kent County; provide for. Creates land transfer act.
Purpose and Intent: The main purpose of this bill is to authorize the transfer of certain state-owned property located in Kent County to a private entity. The intent is to facilitate the redevelopment and productive use of this state-owned land.
Key Provisions:
- Identifies a specific parcel of state-owned property in Kent County to be conveyed to a private entity
- Outlines the terms and conditions of the property transfer, including the sale price and any restrictions on future use
- Requires the state to follow a competitive bidding process to select the private entity
- Specifies that the proceeds from the sale must be deposited into the state's general fund
Affected Parties and Impacts:
- The state of Michigan, which will transfer ownership of the property and receive revenue from the sale
- The private entity that acquires the property, which will be able to redevelop the land for commercial or residential use
- The local community in Kent County, which may be impacted by the future use of the property
Procedural and Timeline Considerations:
- The bill has been electronically reproduced and is currently in the legislative process
- If passed, the property transfer would need to be completed within a specified timeframe outlined in the legislation
Compiled from official sources — confirm details with the bill’s official record.
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