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HR 5649 98th Congress House Public Lands and Natural Resources Forests and forest products Government Operations and Politics Government contractors Lumber trade Public Contracts, Procurement, and Property Public Lands and Real Property

Federal Timber Contract Payment Modification Act

Introduced: May 10, 1984 See on congress.gov
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 Everywhere this bill has been 8 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 26, 1984
Forwarded by Subcommittee to Full Committee (Amended).
Sep 26, 1984
Subcommittee Consideration and Mark-up Session Held.
Jun 27, 1984
Subcommittee Hearings Held.
Jun 4, 1984
Referred to Subcommittee on Mining, Forest Management and Bonneville Power Administration.
May 15, 1984
Referred to Subcommittee on Forest, Family Farms, and Energy.
May 10, 1984
Referred to House Committee on Interior and Insular Affairs.
May 10, 1984
Referred to House Committee on Agriculture.
May 10, 1984
Introduced in House
 Plain-English summary Congressional Research Service

Federal Timber Contract Payment Modification Act - 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 a buy-out of: (1) up to 55 percent of a contract's volume, with a maximum of 200,000,000 board feet, for purchasers holding more than 27,300,000 board feet of timber in qualifying contracts; or (2) up to 15,000,000 board feet or one contract (whichever is greater) for purchasers holding 27,000,000 or less board feet of timber in qualifying contracts.

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.

What's happening now September 26, 1984

Forwarded by Subcommittee to Full Committee (Amended).

 Committees of jurisdiction 4
 Cosponsors 1
All 1 Democratic 1