For the purposes of this section, "state-owned land" means land, with or without improvements upon it, for which the state owns fee title. It does not include:
(1) land held in trust by the state for political subdivisions of the state;
(2) permanent school trust fund lands;
(3) university trust fund lands;
(4) mineral interests; or
(5) trunk highway right-of-way.
The commissioner of administration must inventory all state-owned land and determine the number of acres owned by the state as of December 31, 2002. The inventory must identify for each parcel the state agency responsible for the parcel, its location, size, and whether it is (1) currently being used for a public purpose, (2) anticipated to be used for a public purpose in the future, or (3) not currently being used or anticipated to be used for a public purpose. The inventory must also identify how much land is included in each classification under section 86A.05. Within two months of completing the inventory, and by January 15 each odd-numbered year thereafter, the commissioner must report on the inventory to the chairs of the house of representatives and senate committees with jurisdiction over higher education, capital investment, and natural resources and environment finance, and the chairs of the house of representatives Committee on Ways and Means and the senate Committee on Finance.