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 to promote achievement of this goal;

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

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

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