Substitute Senate Bill No. 1564 amends a prior conveyance of a parcel of state land to the Catherine Violet Hubbard Foundation, Inc. The bill specifies that the Commissioner of Agriculture will convey approximately 34.44 acres of land in Newtown to the Foundation at a cost covering administrative expenses. The land must be used for an animal sanctuary, wildlife preserve, or other nature preservation purposes. If the Foundation fails to use the land for these purposes or does not retain ownership, the parcel will revert to the state. The bill also introduces new provisions allowing the Foundation to commit part or all of the parcel as security for loans to finance the construction of facilities on the land, with stipulations regarding foreclosure and the sale of the parcel.

Additionally, the bill establishes a fifty-foot wide easement for the state along the northern line of the parcel for access and agricultural purposes. The State Properties Review Board is required to complete its review of the conveyance within thirty days of receiving a proposed agreement from the Department of Agriculture. The bill also clarifies that the land will remain under the care of the Department of Agriculture until the conveyance is finalized, and the State Treasurer will execute any necessary deeds or instruments to facilitate the conveyance. The amendments include the deletion of certain conditions regarding leasing the land and the addition of new provisions related to loan security and foreclosure processes.