S.2753 - A bill to provide for the buy-out of certain contracts for federal timber.98th Congress (1983-1984)
|Sponsor:||Sen. Hatfield, Mark O. [R-OR] (Introduced 06/13/1984)|
|Committees:||Senate - Agriculture, Nutrition, and Forestry; Energy and Natural Resources|
|Latest Action:||Senate - 08/01/1984 Committee on Energy and Natural Resources. Provisions of measure incorporated into measure H.R. 2838 ordered to be reported. (All Actions)|
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Summary: S.2753 — 98th Congress (1983-1984)All Information (Except Text)
Introduced in Senate (06/13/1984)
Authorizes requesting purchasers of Federal timber to buy out pre-1982 and specified reformed contracts held with the Secretary of Agriculture or the Secretary of the Interior.
Permits cancellation of up to 55 percent of a contract's volume, with a maximum of 200,000,000 board feet and a minimum of 15,000,000 board feet for any one purchaser.
Bases purchaser cost on net worth and projected contract losses.
States that amounts collected from buy-outs shall be available for timber management appropriation.
Limits FY 1984 Forest Service region six timber sales to 4,300,000,000 board feet. States that beginning in FY 1985 and continuing until completion of specified 1983 contract extensions (but at least through FY 1991) such region's timber sales shall be adjusted to specified levels.
Treats affiliated concerns as a single entity for purposes of calculating net worth and buy-out limitations.