Property: conveyance of state property; transfer of certain state-owned property in Arenac County; provide for. Creates land transfer act.

Added specific definitions for 'Energy storage facility', 'Net revenue', and 'Unit of local government' to clarify terms used throughout the bill.

Expanded 'Public use' definitions to include emergency management response, public education, public transportation, public parks, public health uses, and wildlife conservation.

Added new transfer methods including land bank fast track authority transfers and jurisdictional transfers to other state agencies.

Created new conditions for sales below fair market value, including priority offers to local governments and specific timelines for purchase agreements.

Added restrictions prohibiting solar or wind generation projects and energy storage facilities on conveyed property, with specific exceptions for off-grid or distributed generation programs.

Established state reentry rights if property is used in violation of restrictions, allowing the state to terminate the grantee's estate and reclaim property.

Added requirement that grantees reimburse the state for costs incurred in preparing property for conveyance.

Added provisions requiring grantees to pay the state 50% of gross revenue from oil, gas, or mineral development on conveyed property.