An Act authorizing the commissioner of Capital Asset Management and Maintenance to convey a certain parcel of land in the town of Lancaster

This bill authorizes the state to transfer specific land parcels in Lancaster, formerly part of the Lancaster Industrial School for Girls, to the town of Lancaster. The transfer includes a nominal one-dollar fee and establishes a financial agreement where the town and state share future profits from selling or leasing the land, with the state retaining at least 40% of the proceeds. The legislation also sets conditions for the town, requiring it to pay the fair market value if it keeps the land for public use and mandating that the land remain dedicated to municipal purposes or revert to the state. Additionally, the bill provides a fallback option for the state to sell or lease the property through competitive bidding if the town fails to complete the purchase by June 30, 2025.