<?xml version='1.0' encoding='utf-8'?>
<section article="gsf" article_name="State Finance and Procurement" number="5A-319" title_number="5A" title_name="Division of Historical and Cultural Programs" subtitle_number="3">
  <level label="a">
    <text>Unless the Board of Public Works approves, the Trust may not dispose of any property transferred to it by the State or purchased with State money.</text>
  </level>
  <level label="b">
    <text>The Trust may not sell, convey, assign, or lease out any historic property solely for investment.</text>
  </level>
  <level label="c">
    <text>Before selling or conveying real or personal property listed in or eligible to be listed in the Maryland Register of Historic Properties, the Trust shall:</text>
    <level label="1">
      <text>ensure that the proposed sale or conveyance provides for the preservation or enhancement of the property;</text>
    </level>
    <level label="2">
      <text>give preference to acquisition proposals that:</text>
      <level label="i">
        <text>are made by political subdivisions or capable private nonprofit organizations qualifying under § 501(c)(3) of the Internal Revenue Code;</text>
      </level>
      <level label="ii">
        <text>provide for uses most compatible with the historic or architectural value of the property; and</text>
      </level>
      <level label="iii">
        <text>provide the greatest opportunity for public involvement, participation, education, and enjoyment; and</text>
      </level>
    </level>
    <level label="3">
      <text>provide a 6-month option to purchase to entities that:</text>
      <level label="i">
        <text>meet the requirements of item (2) of this subsection; and</text>
      </level>
      <level label="ii">
        <text>propose to purchase at the State-established appraised fair market value.</text>
      </level>
    </level>
  </level>
  <level label="d">
    <text>The reversion under a lease made by the Trust may not be redeemed at the option of the tenant unless the lease expressly provides that the reversion may be redeemed at the option of the tenant.</text>
  </level>
</section>
