Section 10. Release of use restriction and reversionary interest affecting certain real property conveyed to The Pennsylvania State University.
(a) Authorization.--The Department of General Services, with the approval of the Governor, is hereby authorized on behalf of the Commonwealth of Pennsylvania to release the use restriction and associated reversionary interest affecting certain real property conveyed to The Pennsylvania State University by the Commonwealth of Pennsylvania, through the Department of General Services, pursuant to the authority contained in section 2409-A of the act of April 9, 1929 (P.L.177, No.175), known as The Administrative Code of 1929, as amended.
(b) Use restriction and reversionary interest.--The use restriction and associated reversionary interest to be released is set forth in section 2409-A(c)(5) of The Administrative Code of 1929 and is as follows:
"The deed of conveyance shall contain a clause that the property conveyed shall be used for educational purposes by the grantee, and, if at any time the grantee or its successor in function conveys the property or permits the property to be used for any purpose other than those specified in this section, the title to the property shall immediately revert to and revest in the Commonwealth of Pennsylvania."
(c) Release.--Subject to the requirements of subsection (a), the use restriction and associated reversionary interest provisions are hereby released with respect to any deed conveying real property to The Pennsylvania State University pursuant to section 2409-A of The Administrative Code of 1929, for the following campuses: DuBois, Fayette, Mont Alto, New Kensington, Shenango, Wilkes-Barre and York campuses.
(d) Legal instruments.--Any legal instruments necessary to release the use restriction and reversionary interest in any deed for real property conveyed to The Pennsylvania State University as described in subsection (c) pursuant to section 2409-A of The Administrative Code of 1929 shall be executed by the Secretary of General Services in the name of the Commonwealth of Pennsylvania.
(e) Costs and fees.--Any costs and fees incidental to the release authorized under this section shall be borne by The Pennsylvania State University.
(f) Proceeds.--Any proceeds received by the Department of General Services for the release authorized under this section shall be deposited into the General Fund.