The bill establishes the Sawmill Revitalization Special Revenue Account within the state special revenue fund, allowing the Board of Investments to administer funds and provide loans to parties capable of revitalizing closed sawmills. A key provision includes a fund transfer of $6 million from the capital developments long-range building program account to the sawmill revitalization account by June 30, 2025. The interest rate for loans from this account is set at a maximum of 4%, an increase from the previous cap of 3%.

Additionally, the bill appropriates $6 million from the sawmill revitalization account to the Board of Investments for the biennium ending June 30, 2027, specifically for loans aimed at returning closed sawmills to commercial operation. Any unspent funds from this appropriation will revert to the capital developments long-range building program account. The act is effective immediately upon passage and approval, with a termination date set for June 30, 2027.