HOUSE BILL NO. 498

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Bill Status



H0498.........................................by RESOURCES AND CONSERVATION
TIMBER SALES - Amends existing law to authorize  the director of the
Department of Lands to apply all or a portion of specified  deposits as
final payment or payments for forest products removed or to satisfy other
contractual obligations.

02/08    House intro - 1st rdg - to printing
02/11    Rpt prt - to Res/Con
02/14    Rpt out - rec d/p - to 2nd rdg
02/15    2nd rdg - to 3rd rdg
02/19    3rd rdg - PASSED - 69-0-1
      AYES -- Anderson, Andrus, Barrett, Bayer, Bedke, Bell, Bilbao, Black,
      Block, Bock, Boe, Bolz, Bowers, Brackett, Chadderdon, Chavez, Chew,
      Clark, Collins, Crane, Durst, Eskridge, Hagedorn, Hart, Harwood,
      Henbest(Burgoyne), Henderson, Jaquet, Killen, King, Kren, Labrador,
      Lake, LeFavour, Loertscher, Luker, Marriott, Mathews, McGeachin,
      Mortimer, Moyle, Nielsen, Nonini, Pasley-Stuart, Patrick, Pence,
      Raybould, Ringo, Roberts, Ruchti, Rusche, Sayler, Schaefer,
      Shepherd(02), Shepherd(08), Shirley, Shively, Smith(24),
      Smith(30)(Stanek), Snodgrass, Stevenson, Thayn, Thomas, Trail, Vander
      Woude, Wills, Wood(27), Wood(35), Mr. Speaker
      NAYS -- None
      Absent and excused -- Bradford
    Floor Sponsor - Sayler
    Title apvd - to Senate
02/20    Senate intro - 1st rdg - to Res/Env
03/06    Rpt out - rec d/p - to 2nd rdg
03/07    2nd rdg - to 3rd rdg
03/10    3rd rdg - PASSED - 34-0-1
      AYES -- Andreason, Bair, Bastian, Bilyeu, Broadsword, Burkett,
      Cameron, Coiner, Corder, Darrington, Davis, Fulcher, Gannon, Geddes,
      Goedde, Hammond, Heinrich, Hill, Jorgenson, Kelly, Keough, Langhorst,
      Little, Lodge, Malepeai(Sagness), McGee, McKague, Pearce, Richardson,
      Schroeder, Siddoway, Stegner, Stennett, Werk
      NAYS -- None
      Absent and excused -- McKenzie
    Floor Sponsor - Broadsword
    Title apvd - to House
03/11    To enrol - Rpt enrol - Sp signed
03/12    Pres signed - To Governor
03/14    Governor signed
         Session Law Chapter 114
         Effective: 07/01/08

Bill Text




                                                                       
  ]]]]              LEGISLATURE OF THE STATE OF IDAHO             ]]]]
 Fifty-ninth Legislature                   Second Regular Session - 2008

                                                                       

                              IN THE HOUSE OF REPRESENTATIVES

                                     HOUSE BILL NO. 498

                          BY RESOURCES AND CONSERVATION COMMITTEE

  1                                        AN ACT
  2    RELATING TO THE SALE OF TIMBER; AMENDING SECTION 58-411, IDAHO  CODE,  TO  AU-
  3        THORIZE  THE DIRECTOR OF THE DEPARTMENT OF LANDS TO APPLY ALL OR A PORTION
  4        OF SPECIFIED DEPOSITS AS FINAL PAYMENT OR  PAYMENTS  FOR  FOREST  PRODUCTS
  5        REMOVED OR TO SATISFY OTHER CONTRACTUAL OBLIGATIONS.

  6    Be It Enacted by the Legislature of the State of Idaho:

  7        SECTION  1.  That  Section  58-411, Idaho Code, be, and the same is hereby
  8    amended to read as follows:

  9        58-411.  SALE OF TIMBER. Timber belonging to the state  of  Idaho  may  be
 10    sold  at  public  auction  by  the state board of land commissioners, at their
 11    option, as follows: ten percent (10%) of the estimated value  of  the  timber,
 12    after  deducting  the development credits attendant to the sale of the timber,
 13    shall be presented as a bid deposit, in a form acceptable to the state, on the
 14    day of sale. Ten percent (10%) of the purchase  price  of  the  timber,  after
 15    deducting  the  development credits attendant to the sale of the timber, shall
 16    be due and payable within ten (10) days of the date of sale. This sum shall be
 17    retained by the director of the department of lands as a cash reserve for  the
 18    duration  of  the  sale or the director may, at his discretion, apply all or a
 19    portion of the sum as final payment or payments for forest products removed or
 20    to satisfy other contractual obligations. The balance of such  purchase  price
 21    shall  be  paid  at such time as the timber is scaled and billed with interest
 22    computed from the date of sale to the date of billing at the  rate  per  annum
 23    set  by  the state board of land commissioners. Lump sum sales may be sold for
 24    cash at the time of sale or upon such terms and conditions as the state  board
 25    of land commissioners may prescribe.

Statement of Purpose / Fiscal Impact


                       STATEMENT OF PURPOSE

                             RS 17668

     This proposed legislation will allow the Idaho Department of
Lands (IDL) to return to its former practice of allowing, at
IDL's discretion, the purchaser of a state timber sale the
opportunity to apply all, or a portion of the purchaser's initial
cash deposit as a final payment or a series of payments toward
the remaining value of the timber sale. 


                          FISCAL NOTE

     This proposed change could result in loss of interest income
earned by the State on the amount of the purchasers' initial cash
deposit.  The amount varies depending upon the average daily
interest rate of the State Treasurer, the actual time the timber
sale purchaser takes to complete a given timber sale, the amount
of initial cash deposit returned or credited and when the final
application of the initial cash deposit is returned or credited. 
In the past three (3) years, the amount of estimated monthly
interest earnings has varied from a low of $1,130.18 to a high of
$1,801.01 with a three (3) year average of $1,447.90.   




CONTACT:
Name:     Jane Wittmeyer, Intermountain Forest Association
Phone:    342-3454

Sponsors: Representatives Stevenson, Clark, Nonini, Sayler
Phone: 332-1000 

Sponsors: Senators Schroeder, Broadsword, Little
Phone: 332-1000



STATEMENT OF PURPOSE/FISCAL NOTE                         H 498   

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