Relating to forest products; and declaring an emergency.
Catchline/Summary:
Caps amount of bonds or other securities required of bidder or purchaser in connection with forest product sales by State Forester. Caps amount of bonds or other securities required of bidder or purchaser in connection with forest product sales by State Forester. Limits time for State Forester to return unexpended amount from performance bond or other security.
Makes bonding or other security requirements for forest product sales by Department of State Lands and provisions for department's return of bonds and other securities equivalent to revised bonding or other security requirements and provisions for return of bonds or securities applicable for forest product sales by State Forester.
Applies to bonds or other securities provided for forest product sales occurring on or after July 1, 2014.
Declares emergency, effective on passage.
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SB 1555
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