(1) There is created a forest development account in the state treasury. The state treasurer shall keep an account of all sums deposited, expended, or withdrawn from the account.

(2)(a) Any sums placed in the forest development account shall be pledged for the purpose of:

(i) Paying interest and principal on the bonds issued by the department under RCW 79.22.080 and 79.22.090 and the provisions of this chapter; and

(ii) The purchase of land for growing timber.

(b) Any bonds issued shall constitute a first and prior claim and lien against the account for the payment of principal and interest.

(3) No sums for the purposes identified in subsection (2) of this section shall be withdrawn or paid out of the account except upon approval of the department.

(a) Appropriations may be made by the legislature from the forest development account to the department for the purpose of:

(i) Carrying on the activities of the department on state forestlands;

(ii) Establishing a state forestland pool under RCW 79.22.140 and carrying on the activities of the department on lands included in the land pool;

(iii) Carrying on the activities of the department on lands managed on a sustained yield basis as provided for in RCW 79.10.320; and

(iv) Reimbursement of expenditures that have been made or may be made from the resource management cost account created in RCW 79.64.020 in the management of state forestlands.

(b) For the 2011-2013 fiscal biennium, moneys from the forest development account shall be distributed as directed in section 706, chapter 7, Laws of 2012 2nd sp. sess. to the beneficiaries of the revenues derived from state forestlands. During the 2011-2013 fiscal biennium, the legislature may appropriate moneys in the forest development account to support emergency fire suppression activities in a manner that, at a maximum, represents the proportion of land that the department manages in comparison to the total land the department conducts emergency fire suppression activities on.

Explanatory statement—2023 c 470: See note following RCW 10.99.030.

Effective date—2012 2nd sp.s. c 7: See note following RCW 2.68.020.

Findings—Intent—2012 c 166: See note following RCW 79.02.010.

Intent—2003 c 334: See note following RCW 79.02.010.

Severability—Effective date—2000 2nd sp.s. c 1: See notes following RCW 41.05.143.

Severability—Effective date—1999 sp.s. c 13: See notes following RCW 77.85.005.

Effective date—1998 c 347: "This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect immediately [April 3, 1998]." [ 1998 c 347 s 56.]

Effective date—1985 c 57: See note following RCW 18.04.105.