H-4457              _______________________________________________

                                          SUBSTITUTE HOUSE BILL NO. 1894

                        _______________________________________________

State of Washington                              49th Legislature                              1986 Regular Session

By House Committee on Ways & Means (originally sponsored by Representative Sommers)

Read first time 2/7/86 and passed to Committee on Rules.

AN ACT Relating to forest land taxation; amending section 4, chapter 4, Laws of 1982 2nd ex. sess. (uncodified); and declaring an emergency.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

        Sec. 1.  Section 4, chapter 4, Laws of 1982 2nd ex. sess. (uncodified) is amended to read as follows:

          This act is necessary for the immediate preservation of the public peace, health, and safety, the support of the state government and its existing public institutions, and shall take effect August 1, 1982.  This 1982 amendatory act shall not be construed to affect timber contracts in effect on the effective date of this 1982 amendatory act, except this 1982 amendatory act does apply to forest trees harvested after the effective date of this 1986 act from lands sold to any governmental agency by warranty deed or contract where the seller reserved to itself the right to take all merchantable timber for a specific period of years, or in perpetuity, and to forest trees harvested after the effective date of this 1986 act that any governmental agency, by quit claim deed, as partial consideration for payment of the purchase price, conveyed for a specific period of years, or in perpetuity, all timber trees, standing, growing, or laying on the described land to the taxpayer.

NEW SECTION. Sec. 2.     This act is necessary for the immediate preservation of the public peace, health, and safety, the support of the state government and its existing public institutions, and shall take effect immediately.