Authorizes the board of natural resources to: (1) Establish a state forest land pool for small, timber-dependent southwest Washington counties; and

(2) If deemed appropriate after a required analysis, use revenue designated for replacement of encumbered state forest land in one county to be pooled with other counties' land replacement funds to purchase forest land within any of the participating counties.

Declares it is the legislature's intent that the replacement forest lands purchased to be part of the land pool are to be maintained as working forest lands.