SB224

What it does

• Requires an official cadastral survey before issuing a patent for state land unless the federal Bureau of Land Management has already done one.
• Allows the commissioner to waive some monumentation rules or require only control surveys in specific areas outside standard grids, provided no more than one conveyance is issued per section.
• Permits waivers for lands within two miles of a survey monument if the land has a single purpose use like a communication site, aid to navigation, or park.
• Requires bidders on non-commercial, industrial, or agricultural state land auctions to be Alaska residents for at least one year before the sale date and provide proof.
• Mandates that successful auction winners and sealed bid participants deposit 5% of their bid amount as earnest money.
• Extends the maximum time allowed to pay off purchased state land from 20 years to 30 years using monthly, quarterly, or annual payments with interest.
• Allows buyers who miss a payment to fix the breach within 30 days by paying what is owed plus a fee of $50 or 5% of the unpaid amount, whichever is larger.