Timber Harvesting. Forestry Program. Bond Act.

TIMBER HARVESTING. FORESTRY PROGRAM. BOND ACT. INITIATIVE STATUTE. Authorizes, subject to approval by Legislature, $300,000,000 program for loans, grants to certain timberland owners, public entities, others for forest and park restoration, urban forestry projects. Requires state-approved timber and wildlife management plans for private timberlands exceeding 5000 acres. Mandates removal of timberlands from forest preserve zone if timber management plan not approved by state regulators. Requires timberland, wildlife resources study. Allows state acquisition of 1618-acre designated timberlands. Authorizes $300,000,000 general obligation bond issue to fund forestry programs. Provides that between competing initiatives regulating timber harvesting, timberland acquisition, this measure overrides other(s). Summary of estimate of Legislative Analyst and Director of Finance of fiscal impact on state and local governments: State General Fund costs of $300 million for bond principal, $235 million in projected bond interest, annual Forest Resources Improvement Fund costs of $3.2 million, to fund and administer forestry grants program. Annual cost to state General Fund of $9.6 million, one-time cost of approximately $125,000, for state administration of timber, wildlife management plan requirements. One-time cost to Timberland Wildlife Management Fund of approximately 1.1 million for specified studies, offset by revenue from fees on timber harvest plans. Probable reduction in Proposition 98-related transfers of excess revenues to K-14 education