In addition to other duties and powers conferred by law upon the Commissioner of State Lands, he or she shall:
(1) Effectuate the policies and carry out the purposes declared in § 22-5-301, including:
(A) Securing the cooperation and assistance of the United States and any of its agencies; and
(B) Entering into contracts, agreements, and conveyances necessary to secure such federal assistance;
(2) Conduct investigations, independently or jointly with other state and federal agencies, relating to conditions and factors affecting, and methods of accomplishing more effectively, the purposes of this subchapter;
(3) Assign lands to the several state agencies for administration, subject to their agreement and acceptance; and
(4) Review, compile, and maintain inventory records of the real property owned by the State of Arkansas based upon the information submitted under §§ 22-5-209 and 22-5-411 and the records in his or her office.