The bill amends existing laws regarding the eligibility, enrollment, and compensation of small forestland owners participating in the forestry riparian easement program in Washington State. Key changes include the definition of "qualifying timber," which now specifies that it must be on land owned by a qualifying small forestland owner. The bill also adjusts the duration of forestry riparian easements from fifty years to forty years and increases the compensation for qualifying timber from fifty percent to ninety percent of its value. Additionally, it establishes that compensation for timber on potentially unstable slopes or landforms cannot exceed $150,000 during any biennial funding period.

Furthermore, the bill emphasizes the importance of economically viable working forests and their societal benefits, including clean water protection and wildlife habitat. It mandates that the small forestland owner office complete application transactions within two years of receipt and allows for the use of landowners' actual mill receipts to determine fair market value, although these documents are not required for valuation. The legislation also includes provisions for reimbursement of costs incurred by landowners for compliance with the forestry riparian easement program, ensuring that small forestland owners can remain economically viable while participating in conservation efforts.

Statutes affected:
Original Bill: 76.13.120, 76.13.130, 76.13.140
Substitute Bill: 76.13.120, 76.13.140
Bill as Passed Legislature: 76.13.120, 76.13.140
Session Law: 76.13.120, 76.13.140