state-owned properties; review board

SB 1615 establishes a state property review board to audit underused state-owned real estate starting in 2027. The board will identify properties using less than 60% of their intended capacity as "Surplus Property" and place them on a Mandatory Disposal List. These properties must be sold at public auction within 12 months, with proceeds deposited into the state general fund. The bill directly affects state agencies holding non-land-trust property, aiming to reduce taxpayer costs from vacant facilities by converting them into liquid capital.