(a) Vacant and unsurveyed public school land shall be located, sold, and leased under this subchapter, except:
(1) submerged lands within tidewater limits;
(2) all islands, flats, and emergent lands within tidewater limits;
(3) natural lakes; and
(4) riverbeds, including channels and islands in riverbeds, above tidewater limits.
(b) This subchapter does not alter or diminish the public domain status of the surface estate of riverbeds and channels and islands in riverbeds that are located above tidewater limits.