Substitute Senate Bill No. 518 amends the conveyance of a ten-acre parcel of state land in Middletown, previously sold to the Shiloh Baptist Community Development Corporation, which has reverted back to the state. The bill mandates that the Commissioner of Administrative Services convey this land back to the corporation at a cost covering administrative expenses, contingent upon approval from the State Properties Review Board. The Shiloh Baptist Community Development Corporation is required to utilize the land for moderate-income housing and public recreational or community facilities by June 30, 2029. The housing and facilities must adhere to nondiscrimination requirements and cannot be used for religious purposes.

The bill introduces specific conditions for the reversion of the land back to the state if construction does not commence or if a financing loan is not signed by the deadline. Additionally, it stipulates that if the housing or facilities fail to meet compliance requirements after the conveyance, the land will revert to the state. The new legal language includes the insertion of "construction is not commenced on" and "or a loan signed to be used for financing such construction," while deleting the phrase "is not used." The reverter provisions established in this bill will replace any prior reverter provisions recorded in the Middletown Land Records.