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 purposes such as an animal sanctuary or wildlife preserve. 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 use the land as collateral for loans to finance the construction of facilities, with stipulations regarding foreclosure and the sale of the land.

Additionally, the bill establishes a fifty-foot wide easement for state access along the northern boundary of the parcel and outlines the responsibilities of the State Properties Review Board and the Commissioner of Agriculture in the conveyance process. The review of the conveyance must be completed within thirty days of receiving a proposed agreement, and the land will remain under the Department of Agriculture's control until the conveyance is finalized. The amendments include the deletion of certain conditions related to leasing the land and the addition of new provisions regarding the use of the land as loan security and the process for foreclosure.