1. A charter school is deemed to be a political subdivision of this State for the purposes of 43 U.S.C. §§ 869 et seq. and any law of this State relating to purchasing or leasing public land.
2. Any property acquired by a charter school as a result of subsection 1 may only be transferred to this State or a political subdivision of this State.
3. If a charter school which has acquired property as a result of subsection 1 relocates, closes or otherwise ceases operations, the ownership of all such property must be transferred to this State or a political subdivision of this State.