Authorizes requesting purchasers of Federal timber to buy out pre-1982 and specified reformed contracts held with the Secretary of Agriculture or the Secretary of the Interior.
Permits cancellation of up to 55 percent of a contract's volume, with a maximum of 200,000,000 board feet and a minimum of 15,000,000 board feet for any one purchaser.
Bases purchaser cost on net worth and projected contract losses.
States that amounts collected from buy-outs shall be available for timber management appropriation.
Limits FY 1984 Forest Service region six timber sales to 4,300,000,000 board feet. States that beginning in FY 1985 and continuing until completion of specified 1983 contract extensions (but at least through FY 1991) such region's timber sales shall be adjusted to specified levels.
Treats affiliated concerns as a single entity for purposes of calculating net worth and buy-out limitations.
Introduced in Senate
Read twice and referred jointly to the Committees on Energy and Natural Resources; Agriculture by unanimous consent.
Committee on Agriculture requested executive comment from Agriculture Department.
Referred to Subcommittee on Soil and Water Conservation.
Committee on Agriculture received executive comment from Agriculture Department. Unfavorable.
Committee on Energy and Natural Resources. Provisions of measure incorporated into measure H.R. 2838 ordered to be reported.
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