Authorizing the state board of regents to sell and convey real property valued at $5,000,000 or less without further legislative authorization and requiring the submission of an annual report listing any such real property sales to the legislature.

HB 2561 allows Kansas' state board of regents or state educational institutions to sell real property valued at $5 million or less without needing separate legislative approval. The bill requires the board to have property appraised by three independent appraisers, adopt sales policies, and submit an annual report to the legislature listing all such sales. Proceeds from these sales must be deposited into designated special funds managed by the state treasurer. This change streamlines the process for smaller property transactions, directly affecting the state board of regents and its educational institutions.