The bill directs the joint legislative audit and review committee to conduct a comprehensive review of the trust structure established in 1935 for managing county forest board lands, which were transferred to the state for timber management. The review will assess the performance of the trust and the Department of Natural Resources as the trust manager, focusing on the volume of timber offered for sale over the past three decades. Additionally, the committee will analyze other comparable trust structures to identify best practices for transparency and performance measures that protect the rights of beneficiaries.

The bill emphasizes the need for adjustments to the current trust management to ensure it aligns with the original conditions under which counties transferred their lands and adheres to fundamental trust principles. The committee is required to submit its findings and recommendations to the legislature by December 31, 2027, with the provisions of the bill set to expire on June 30, 2028.