1. (a) The state will, in its discretion, exchange land or interests in state land if

   1. (1) the exchange is not inconsistent with a land use plan adopted or amended under AS 38.04.065; and

   2. (2) the land is classified under 11 AAC 55 and the classification is

      1. (A) agricultural, commercial, industrial, private recreation, reserved use, residential, or utility if classified before September 7, 1983; or
      2. (B) agricultural, reserved use, or settlement, if classified after September 6, 1983.
2. (b) Nothing in this section requires classification or prohibits reclassification under 11 AAC 55 of state land or interests in state land proposed for exchange.
3. (c) Only agricultural interests may be exchanged on land classified agricultural under 11 AAC 55.

(Eff. 10/21/84, Register 92)

Authority: AS 38.05.321, AS 38.50.010, AS 38.50.160