If a tract was originally transferred to a political subdivision as a gift by a not-for-profit corporation or organization, the disposing agent may convey it back to the original grantor or the grantor's successors with their consent without consideration upon a determination by the disposing agent that:

1. (1) the property is surplus; and
2. (2) the original grantor or the grantor's successors are eligible to receive the tract under section 16 of this chapter.

As added by P.L.330-1985, SEC.5. Amended by P.L.60-1988, SEC.35.