Summary: S.1775 — 93rd Congress (1973-1974)All Information (Except Text)

Bill summaries are authored by CRS.

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Reported to Senate with amendment(s) (06/11/1973)

(LATEST SUMMARY)

Wood Supply and National Forest Lands Investment Act - Sets forth the findings of Congress. Establishes in the Treasury of the United States a forest lands planning and investment fund, hereinafter referred to as the "fund". Provides that beginning July 1, 1973, there shall be credited to the fund all receipts from the sale of forest products and from any other source of revenue from the national forests and other lands administered by the Forest Service. States that moneys appropriated from the fund shall be allocated in each fiscal year for expenditure by the Secretary of Agriculture in such proportions and in such locations as he determines to be appropriate for the following purposes: (1) planning and inventories needed for the preservation, use, or development of national forest system resources; (2) capital or basic investments made for furthering sustained yield resource management programs or for enhancing long-term public use of national forest resources; and (3) financial or technical assistance to States or private forest landowners in accord with such forestry assistance programs as the Secretary of Agriculture is authorized to undertake under other provisions of law.

States that the objective of management of the commercial forest lands of the national forest system which have not been withdrawn from timber utilization by statute or administrative regulation shall be to make an optimum contribution to the forest products needs of the Nation both for domestic consumption and for an advantageous trade base for support of the Nation's balance-of-trade position.

Directs the Secretary of Agriculture to require contractors and permittees to install or take such measures as he deems desirable to minimize adverse environmental impacts that might result from the contracted or permitted activity. States that in carrying out the provisions of this Act, the Secretary of Agriculture shall submit to the Congress (1) within one year from the date of enactment of this Act a program for the development and management and environmental protection of all national forest system resources, and (2) within two years a program for the development of all the Nation's forest lands for high resource yields and environmental protection.