RCW 79.15.520
Contract harvesting revolving account.
(1) The contract harvesting revolving account is created in the custody of the state treasurer. All receipts from the gross proceeds of the sale of logs from a contract harvesting sale must be deposited into the account. Expenditures from the account may be used only for the payment of harvesting costs incurred on contract harvesting sales and for payment of costs incurred from silvicultural treatments necessary to improve forest health conducted under RCW 79.15.540. Only the commissioner or the commissioner's designee may authorize expenditures from the account. The board of natural resources has oversight of the account, and the commissioner must periodically report to the board of natural resources as to the status of the account, its disbursement, and receipts. The account is subject to allotment procedures under chapter 43.88 RCW, but an appropriation is not required for expenditures.
(2) When the logs from a contract harvesting sale are sold, the gross proceeds must be deposited into the contract harvesting revolving account. Moneys equal to the harvesting costs must be retained in the account and be deducted from the gross proceeds to determine the net proceeds. The net proceeds from the sale of the logs must be distributed in accordance with RCW 43.30.325(1)(b). The final receipt of gross proceeds on a contract harvesting sale must be retained in the contract harvesting revolving account until all required costs for that sale have been paid. The contract harvesting revolving account is an interest-bearing account and the interest must be credited to the account. The account balance may not exceed five million dollars at the end of each calendar year. Moneys in excess of five million dollars must be disbursed according to RCW 79.22.040, 79.22.050, and 79.64.040. If the department permanently discontinues the use of contract harvesting sales, any sums remaining in the contract harvesting revolving account must be returned to the resource management cost account and the forest development account in proportion to each account's contribution to the initial balance of the contract harvesting revolving account.
[ 2009 c 418 § 3; 2004 c 218 § 7; 2003 c 313 § 4.]
NOTES:
Findings—Intent—2009 c 418: See note following RCW 79.15.510.
Effective date—2004 c 218: See note following RCW 76.06.140.
Findings—Severability—2003 c 313: See notes following RCW 79.15.500.
Structure Revised Code of Washington
Chapter 79.15 - Sale of Valuable Materials.
79.15.010 - Valuable materials sold separately.
79.15.020 - Duties of department.
79.15.030 - Rules or procedures for removal of valuable materials sold.
79.15.040 - Sale of valuable materials without application or deposit.
79.15.045 - Who may purchase—Fee.
79.15.050 - Type of sale—Direct sales.
79.15.055 - Appraisal—Defined.
79.15.060 - Date of sale limited by time of appraisal—Transfer of authority.
79.15.070 - Time and date of sale.
79.15.080 - Advertising sales of valuable materials.
79.15.090 - Advertisement for informational purposes only.
79.15.100 - Terms and conditions of sale—Exemption for forest biomass.
79.15.120 - Confirmation of sale.
79.15.210 - Findings—Damage to timber.
79.15.220 - Sale of damaged valuable materials.
79.15.300 - Contracts—Forfeiture—Royalties—Monthly reports.
79.15.320 - Road material—Sale to public authorities—Disposition of proceeds.
79.15.400 - License to remove firewood authorized.
79.15.410 - Removal only for personal use.
79.15.420 - Issuance of license—Fee.
79.15.430 - Removal of firewood without charge.
79.15.500 - Contract harvesting—Definitions.
79.15.510 - Contract harvesting—Program established.
79.15.520 - Contract harvesting revolving account.
79.15.530 - Contract harvesting—Special appraisal practices.