Relates to requirements for explanatory statements regarding disposal of property

This bill requires public authorities disposing of property to include the names of all "beneficial owners" in their explanatory statements. Beneficial owners are defined as individuals who directly or indirectly control an entity receiving the property through ownership or management authority. The bill directly affects public authorities selling or transferring property, mandating transparency about who ultimately controls the receiving entity, and applies to all disposals occurring after the bill's effective date.