Pennsylvania Statutes Title 37 Pa.C.S.A. Historical and Museums § 701. Statutes Title to historic property

(1) For purposes of historic preservation, or for educational, recreational or agricultural purposes, or for parking areas or concessions for the convenience and comfort of the public, the commission may lease historic property for a period not to exceed five years to any person or organization of the Commonwealth. The commission shall lease the property in the following manner:

(2) If a substantial capital investment is involved, the commission may, with the approval of the Governor, enter into such leases for that period required under sections 48(g)(2)(B)(vi) and 168(c) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. §§ 48, 168) relating to investment tax credit for historic preservation.

(3) The commission shall monitor those leased properties to insure they are being managed in accordance with State law.

(4) The commission may lease historic property to a political subdivision willing to assume total fiscal and management responsibility for a period of time up to 99 years, provided that such leases contain restrictions protecting the historical integrity of the site, insuring that appropriate historical preservation standards are maintained and require appropriate insurance coverage by the lessee.