A. The state accepts the provisions of the act of Congress of June 28, 1934, as amended, known as the Taylor grazing act, and the provisions of the act of Congress of June 5, 1936 amending section 28 of the enabling act, and all other applicable acts of Congress which are enacted relating to the exchange of state land for federally owned land.

B. The state land department may cooperate with the federal government in the administration of the Taylor grazing act and other applicable acts of Congress relating to the exchange of state lands for federal lands whenever the interest of the state can best be served thereby.