The bill, General Assembly Raised Bill No. 518, amends the conveyance of a ten-acre parcel of state land in Middletown that was previously sold to the Shiloh Baptist Community Development Corporation but has reverted back to the state. The bill stipulates that the Commissioner of Administrative Services will convey the land back to the corporation at a cost equal to the administrative expenses involved in the conveyance, pending approval from the State Properties Review Board. The Shiloh Baptist Community Development Corporation is required to use the parcel for moderate-income housing and recreational or community facilities that are open to the public by June 30, 2029. The housing and facilities must comply with nondiscrimination requirements and cannot be used for religious purposes.

Additionally, the bill introduces several new provisions regarding the reversion of the land. If construction on the parcel does not commence or a loan for financing such construction is not signed by the specified deadline, or if the housing or facilities do not meet the required standards after the conveyance, the land will revert to the state. The bill also mandates that the Commissioner of Administrative Services notify any mortgagor at least 120 days before the reversion occurs, and clarifies that such a reversion will not invalidate any promissory notes or other written evidence of indebtedness secured by the mortgage. The act is set to take effect on July 1, 2026.