(1) After restoration of the acquired land, the cabinet may, with the approval of the Governor, transfer jurisdiction of such land, or any portion thereof, to any state agency that can best utilize such land for public purposes.
(2) If the retention of such land is determined to be impractical, the cabinet may, with the approval of the Governor, sell such land to political subdivisions of the Commonwealth at the cost of acquisition and restoration or public sale to the highest bidder. Such land shall be sold subject to the condition that no surface coal mining shall be carried on thereon at any time thereafter. The proceeds of any such sale shall be credited to a revolving fund within the cabinet.
(3) Whenever the cabinet expends funds pursuant to this section in order to satisfy the total purchase price for lands purchased pursuant to KRS 350.570, the cabinet may return to the revolving fund any moneys so used upon resale or other transfer of such land.