1.    The supervising agency, board, commission, department, or institution owning or controlling land proposed by a bill introduced in the legislative assembly to be sold or exchanged shall prepare a written report that includes:

a.    An analysis of the type of land involved.

b.    A determination whether the land is needed for present or future uses of the agency, board, commission, department, or institution.

c.    A description of the party or parties, if known, who are interested in the land and the purposes for which the land is desired.

d.    A map showing the boundaries of the land proposed to be sold or exchanged and the purposes for which the adjacent lands are used.

2.    The commissioner of university and school lands shall review each legislative bill proposing the sale or exchange of state-owned land and the written report from the supervising agency, board, commission, department, or institution. The commissioner may provide a written assessment to the standing committee of the legislative assembly to which the bill is initially referred concerning the proposed land sale or exchange and, in doing so, shall consider the “highest and best use” of the land as defined by section 15-02-05.1.

3.    The commissioner may adopt rules to provide for administration of this section.