To authorize the department of natural resources, if deemed practicable by the commissioner of public lands, to create and manage lands suitable for forest management as a separate category of natural resource lands in a nonfiduciary community forest land trust. (Companion: SB 5272).   Official Text and Analysis.

Recognizes the revenue production objectives of local partners when prioritizing purchases for the CFT. In addition, the substitute bill provides accounting mechanisms to allow the CFT to reimburse the local financial contribution necessary to establish a trust and sets the local contribution to a new parcel in the CFT as 50 percent of the difference before the parcel's market value and its timber value.

To provide that the department of natural resources may only provide a reimbursement to a local entity for its contribution to a community forest trust purchase after the parcel's management costs and objectives have been funded and requires any reimbursement dollars to be split evenly between the local contributing entity and the state, with the state reimbursement limited to the difference between the parcel's original appraised fair market value and the parcel's timber and forest land value (which is the amount that equals the local contribution), among other things.

To add as one of the management principles of the Community Forest Trust the generation of revenue for local school districts; gives school district representatives a seat on associated advisory committees.

To authorize the Department of Natural Resources to create and manage the Community Forest Trust as a discrete category of non-fiduciary trust lands actively managed to sustain working forest conservation objectives.

Authorizes the Department of Natural Resources to create and manage the Community Forest Trust as a discrete category of non-fiduciary trust lands actively managed to sustain working forest conservation objectives.