(1) Except as stated in Subsection (1)(d), the provisions of this part, other than this section, do not apply to:
(a) the division's disposal or lease of division-owned property that would otherwise be subject to this part, if the division-owned property has a value under $500,000, as estimated by the division;
(b) a conveyance, lease, or disposal of division-owned property in connection with:
(i) the establishment of a state store, as defined in Section 32B-1-102; or
(ii) the construction of student housing;
(c) a conveyance, lease, or disposal of any part of the point of the mountain state land, as defined in Section 11-59-102, by the Point of the Mountain State Land Authority created in Section 11-59-201;
(d) a conveyance, lease, or disposal of division-owned property for fair market value, as determined by the division, under Subsection 63A-5b-303(1)(a)(viii), except that the following sections apply:
(i) Section 63A-5b-907.5;
(ii) Section 63A-5b-908;
(iii) Section 63A-5b-910;
(iv) Section 63A-5b-911; and
(v) Section 63A-5b-912; or
(e) a conveyance, lease, or disposal of any state-owned land, as defined in Section 11-70-101, by the Utah Fairpark Area Investment and Restoration District, created in Section 11-70-201.
(2) Nothing in Subsection (1)(a), (b), or (d) may be construed to diminish or eliminate the division's responsibility to manage division-owned property in the best interests of the state.