An Act amending the act of January 19, 1968 (1967 P. L. 992, No. 442), entitled "An act authorizing the Commonwealth of Pennsylvania and the counties thereof to preserve, acquire or hold land for open space uses," expanding its scope to include all local government units throughout this Commonwealth; adding definitions for "local government unit," "planning commission" and "transferable development rights"; providing for local option and for transferable development rights; and further providing for planning requirements, for limitations on exercise of powers, for acquisitions of real property interests, for public hearings, for property acquired in fee simple, for assessment of property, for termination or other disposition of open space property interests, and for utility rights-of-way and underground gas storage areas.