[Code of Federal Regulations] [Title 34, Volume 1] [Revised as of July 1, 2006] From the U.S. Government Printing Office via GPO Access [CITE: 34CFR12.2] [Page 31-32] TITLE 34--EDUCATION PART 12_DISPOSAL AND UTILIZATION OF SURPLUS FEDERAL REAL PROPERTY FOR EDUCATIONAL PURPOSES--Table of Contents Subpart A_General Sec. 12.2 What definitions apply? (a) Definitions in the Act. The following terms used in this part are defined in section 472 of the Act: Administrator Surplus property (b) Definitions in the Education Department General Administrative Regulations (EDGAR). The following terms used in this part are defined in 34 CFR 77.1: Department Secretary State (c) Other definitions: The following definitions also apply to this part: Abrogation means the procedure the Secretary may use to release the transferee of surplus Federal real property from the covenants, conditions, reservations, and restrictions contained in [[Page 32]] the conveyance instrument before the term of the instrument expires. Act means the Federal Property and Administrative Services Act of 1949, as amended, 63 Stat. 377 (40 U.S.C. 471 et seq.). Applicant means an eligible entity as described in Sec. 12.5 that formally applies to be a transferee or lessee of surplus Federal real property, using a public benefit allowance (PBA) under the Act. Lessee, except as used in Sec. 12.14(a)(5), means an entity that is given temporary possession, but not title, to surplus Federal real property by the Secretary for educational purposes. Nonprofit institution means any institution, organization, or association, whether incorporated or unincorporated-- (1) The net earnings of which do not inure or may not lawfully inure to the benefit of any private shareholder or individual; and (2) That has been determined by the Internal Revenue Service to be tax-exempt under section 501(c)(3) of title 26. Off-site property means surplus buildings and improvements-- including any related personal property--that are capable of being removed from the underlying land and that are transferred by the Secretary without transferring the underlying real property. On-site property means surplus Federal real property, including any related personal property--other than off-site property. Period of restriction means that period during which the surplus Federal real property transferred for educational purposes must be used by the transferee or lessee in accordance with covenants, conditions, and any other restrictions contained in the conveyance instrument. Program and plan of use means the educational activities to be conducted by the transferee or lessee using the surplus Federal real property, as described in the application for that property. Public benefit allowance (``PBA'') means the credit, calculated in accordance with appendix A to this part, given to a transferee or lessee which is applied against the fair market value of the surplus Federal real property at the time of the transfer or lease of such property in exchange for the proposed educational use of the property by the transferee or lessee. Related personal property means any personal property-- (1) That is located on and is an integral part of, or incidental to the operation of, the surplus Federal real property; or (2) That is determined by the Administrator to be otherwise related to the surplus Federal real property. Surplus Federal real property means the property assigned or suitable for assignment to the Secretary by the Administrator for disposal under the Act. Transfer means to sell and convey title to surplus Federal real property for educational purposes as described in this part. Transferee means that entity which has purchased and acquired title to the surplus Federal real property for educational purposes pursuant to section 203(k) of the Act. (Authority: 40 U.S.C. 472 and 20 U.S.C. 3401 et seq.)