A canceled or poorly bid sale must be replaced in the same fiscal year
What the document says“The Secretary of the Interior shall conduct a replacement sale during the same fiscal year if--”
The section requires a replacement sale in the same fiscal year where a required sale is canceled, delayed or deferred, including for a lack of eligible parcels, or where at least 25 percent of the acreage offered at a sale draws no bid.
What the document actually says“The Secretary of the Interior shall conduct a replacement sale during the same fiscal year if--”
The Interior Secretary must hold another sale that same year. The two tests that follow say when.
One test is that the sale was called off or put back. That includes a shortage of land to offer. The other is that a quarter of the acres drew no bid.
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