Declares an intent to: (1) Confirm the long-term natural resource and land management authority and direction for the department of natural resources;

(2) Provide new direction to focus state land management attention on natural resource and land management opportunities best suited to current and future circumstances; and

(3) Facilitate land transactions that are in the interests of the state and the beneficiaries of these lands.

Prohibits the department of natural resources from acquiring additional urban commercial properties as state lands after the effective date of the act.

Requires the department of natural resources to: (1) Develop a long-term strategy to dispose of the nine existing urban commercial properties and reinvest the proceeds in working natural resource lands that are at risk of conversion or working natural resource lands that will protect and enhance the value of existing trust land holdings;

(2) When acquiring lands at risk of conversion, evaluate the investment return for these natural resource lands at risk of conversion by separately determining the investment value of the lands for natural resource management and the value of the lands for development;

(3) Identify in its biennial budget request any added purchase costs from these lands due to the investment in the development value of lands at risk of conversion; and

(4) Manage forest lands acquired under chapter 79.19 RCW (land bank) under the sustainable harvest plan.