Requires the department of natural resources to: (1) Endeavor to generate an average of two hundred thirty million dollars from state lands and state forestlands each year;

(2) Evaluate its lands portfolio and revenue streams, management practices, and transaction processes, and develop options and recommendations designed to ensure the state's fiduciary duty is being met and increase the amount and stability of revenue from state lands and state forestland over time;

(3) Seek to account for the volatility of forest product markets and consider ways to mitigate the impact of market downturns on its revenues;

(4) Annually adjust the two hundred thirty million dollar goal for inflation, however, it may not count trust land transfer funds towards the goal; and

(5) Prepare an evaluation of use authorizations and leases of state-owned aquatic lands for industrial and commercial uses.

Requires the joint legislative audit and review committee to develop methods or tools to estimate the current asset value of state lands and forestlands.