(1) The division may refer vacant division-owned property to the Department of Transportation for a public auction if:
(a) for a conveyance, lease, or disposal of vacant division-owned property for less than fair market value:
(i) the division has provided notice under Section 63A-5b-905 with respect to the vacant division-owned property; and
(ii) the division receives no qualified proposals in response to the notice under Section 63A-5b-905;
(b) the director determines that:
(i) there is no reasonable likelihood that within the foreseeable future:
(A) a primary state agency will use or occupy the vacant division-owned property; or
(B) a secondary state agency, local government entity, or public purpose nonprofit entity will seek a transfer of ownership or lease of the vacant division-owned property; and
(ii) disposing of the vacant division-owned property through a public auction is in the best interests of the state;
(c) the director requests and receives a recommendation on the proposed public auction from the Legislative Executive Appropriations Committee;
(d) the director communicates the Executive Appropriations Committee's recommendation to the executive director; and
(e) the executive director approves the public auction.
(2) If the division refers a vacant division-owned property to the Department of Transportation for public auction, the Department of Transportation shall publicly auction the vacant division-owned property under the same law and in the same manner that apply to a public auction of Department of Transportation property.
(3) At a public auction conducted under Subsection (2), the Department of Transportation may, on behalf of the division, accept an offer to purchase the vacant division-owned property.
(4) The division and the Department of Transportation shall coordinate together to:
(a) manage the details of finalizing any sale of the vacant division-owned property at public auction; and
(b) ensure that the buyer acquires proper title and that the division receives the net proceeds of the sale.
(5) If a public auction under this section does not result in a sale of the vacant division-owned property, the Department of Transportation shall notify the division and refer the vacant division-owned property back to the division.