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

Added formal definitions for 'fair market value', 'net revenue', 'public use', and 'unit of local government' to clarify how property sales and revenue will be handled.

Gave the City of Detroit first right to purchase the property for $1.00 for two years after the act's effective date.

Added conditions requiring property transferred to local governments to be used exclusively for public purposes, with restrictions on fees and terms for public access.

Established that net revenue from property sales must be deposited in the state treasury and credited to the general fund.

Added state reentry rights if property is used in violation of public use restrictions or if oil, gas, or mineral development revenues are not shared with the state.

Updated property description formatting from degree symbols to question marks in some locations, likely a formatting correction in the legislative markup.

Bill title date changed from May 14, 2025 (House passage) to June 25, 2025 (Senate passage)

Internal tracking identifiers updated from House version (APH_1, eqd0cw) to Senate version (APS_1, z7ec8h)

Page numbering and formatting markers adjusted for Senate version