How the State values land it buys

(a) Notwithstanding section 171-30, the appraisal of land having value as a resource to the State and acquired by the State under this chapter may be performed as follows: (1) The board may review, approve, and accept any existing appraisal prepared on behalf of a nonprofit organization if: (A) The appraisal was completed within one year before the decision by the board to approve the acquisition of land; and (B) The board finds that the appraisal was performed according to applicable and accepted professional standards for land appraisal; or (2) The board may contract for an independent appraisal from no more than three disinterested appraisers who shall follow applicable and accepted professional standards for land appraisal. The board shall submit the appraisal to the attorney general for review and approval before it acquires the land having value as a resource to the State. (b) No land shall be purchased for a sum greater than the highest value fixed by any appraisal accepted or performed under subsection (a); provided that this limitation shall not apply to any acquisition that is made by condemnation. (c) After the land having value as a resource to the State has been acquired or the State abandons the acquisition, the appraisal reports shall be made available for inspection and copying by the public. (d) Anything contained in this section notwithstanding, no appraisal shall be required under this section in the event that any interest in land having value as a resource to the State is donated to the State.