Section 38.50.010. Authorization and procedure for exchange of state land.

   (a) When it is in the best interest of the state, and subject to the requirements of this chapter and the notice provisions of AS 38.05.945, the director may, with the consent of the commissioner, dispose of state land or interest in land, including the land estate, the mineral estate, or both, by exchanging it for land, interest in land, or other consideration.
   (b) Land or an interest in land exchanged must be of approximately equal value; however, the director may accept from or pay to a party to an exchange cash or other consideration to equalize the value of the property conveyed and received by the state. If the director determines that the property to be exchanged is not of approximately equal value or if the value of the property cannot be ascertained with reasonable certainty, the director may enter into an exchange with a finding that the value of the property received, together with the value of other public benefits, equals or exceeds the value of the property relinquished by the state.
   (c) Exchange procedures must comply with applicable statutes and regulations and follow the determination and review procedures provided under AS 38.05.035(e). The director may include in a patent or the written finding stipulations necessary to promote or protect the public interest.
   (d) If the value of the state land exchanged exceeds $5,000,000, or if the exchange is not of an approximately equal value, the director shall forward the proposed exchange to the legislature for review under AS 38.50.140 not later than 10 days after the convening of the next legislative session.

Authorities

38.50.140

Notes

Recent Bills that will modify this

HB 274 STATE LAND; EXCHANGES; LEASE EXTENSIONS

Implemented As

11 AAC 67.200
11 AAC 67.210
11 AAC 67.220
11 AAC 67.230
11 AAC 67.240
11 AAC 67.250
11 AAC 67.260
11 AAC 67.270
11 AAC 67.280

References

11 AAC 67.200
AS 38.50.140 Legislative review.

History

(Sec. 1 ch 240 SLA 1976; am Sec. 5, 6 ch 57 SLA 2016)