§ 72-10-414. Exchange of private property near federal airports.

(1) If any governmental entity or agency adopts any measure which infringes upon the use of privately owned property, or which is designed to assure development compatible with the continued operation of a federal airport, the owner of that private property, if the owner has continuously owned the land from the date of the measure and whose land is wholly or partially within the area directly affected by the measure, may request an exchange of the affected land for state land outside the affected area.

(2)

(a) Upon a request pursuant to Subsection (1), the Board of State Lands, without cost to the affected landowner, shall appraise the subject land taking into consideration the fair market value of any and all improvements, and may offer a land exchange at the earliest practicable time.

(b) The state may identify at least one, and may identify up to three parcels of state land of a substantially equal value to the land requested to be exchanged, and which can otherwise be exchanged in a manner which will not prejudice the interest of the state and which will not be inconsistent with proper management, control, protection, and use of state land.

(c) The state may provide for the use of qualified appraisers to expedite the process of the request.

Renumbered and Amended by Chapter 270, 1998 General Session