(a) Except as provided in (d) of this section, before offering to the general public any unoccupied residential land, the director shall offer the land at a restricted sale at which only veterans may buy.
(b) The director may not sell the land under this section at less than the appraised fair market value. The director shall adopt regulations necessary to ensure that land sold under this section is for bona fide residential use and not for speculation.
(c) When not in conflict with this section, other provisions of AS 38.05.045 — 38.05.067 apply to sales under this section.
(d) This section does not apply to the sale of state land under AS 38.05.057, AS 38.08, or AS 38.09.
(e) In this section, “veteran” means a person with 90 days or more of active service in the armed forces of the United States who has been honorably discharged or a person with 90 days or more of service in the Alaska Territorial Guard.