(a) Mental health trust land shall be managed consistent with the trust principles imposed on the state by the Alaska Mental Health Enabling Act, P.L. 84-830, 70 Stat. 709 (1956).
(b) Subject to (a) of this section, the department (1) shall manage mental health trust land under those provisions of law applicable to other state land;
(2) may exchange other state land for mental health trust land under the procedures set out in AS 38.50; and
(3) may correct errors or omissions in the legal descriptions of mental health trust land.
(c) The commissioner shall adopt regulations under AS 44.62 (Administrative Procedure Act) to implement this section. The regulations adopted under this subsection must, at a minimum, address (1) maintenance of the trust land base;
(2) management for the benefit of the trust;
(3) management for long-term sustained yield of products from the land; and
(4) management for multiple use of trust land.