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March 9, 2010, 12:00 am ET - Amendment SA 3372 proposed by Senator Baucus for Senator Merkley to Amendment SA 3336.
March 9, 2010, 12:00 am ET - Amendment SA 3372 as modified agreed to in Senate by Unanimous Consent.

Full Text of this Amendment

SA 3372. Mr. MERKLEY (for himself and Mr. WYDEN) submitted an amendment intended to be proposed by him to the bill H.R. 4213, to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes; which was ordered to lie on the table; as follows:

At the end of title VI, add the following:
SEC. 6__. QUALIFYING TIMBER CONTRACT OPTIONS.
(a) Definitions.--In this section:
(1) QUALIFYING CONTRACT.--The term "qualifying contract" means a contract that has not been terminated by the Bureau of Land Management for the sale of timber on lands administered by the Bureau of Land Management that meets all of the following criteria:
(A) The contract was awarded during the period beginning on January 1, 2005, and ending on December 31, 2008.
(B) There is unharvested volume remaining for the contract.
(C) The contract is not a salvage sale.
(D) The Secretary determined there is not an urgent need to harvest under the contract due to deteriorating timber conditions that developed after the award of the contract.
(2) SECRETARY.--The term "Secretary" means the Secretary of the Interior, acting through the Director of Bureau of Land Management.
(3) TIMBER PURCHASER.--The term "timber purchaser" means the party to the qualifying contract for the sale of timber from lands administered by the Bureau of Land Management.
(b) Market-Related Contract Extension Option.--Upon a timber purchaser's written request, the Secretary may make a one-time modification to the qualifying contract to add 3 years to the contract expiration date if the written request--
(1) is received by the Secretary not later than 90 days after the date of enactment of this Act; and
(2) contains a provision releasing the United States from all liability, including further consideration or compensation, resulting from the modification under this subsection of the term of a qualifying contract.
(c) Reporting.--Not later than 6 months after the date of the enactment of this Act, the Secretary shall submit to Congress a report detailing a plan and timeline to promulgate new regulations authorizing the Bureau of Land Management to extend and renegotiate timber contracts due to changes in market conditions.
(d) Regulations.--Not later than 2 years after the date of the enactment of this Act, the Secretary shall promulgate new regulations authorizing the Bureau of Land Management to extend and renegotiate timber contracts due to changes in market conditions.
(e) No Surrender of Claims.--This section shall not have the effect of surrendering any claim by the United States against any timber purchaser that arose under a timber sale contract, including a qualifying contract, before the date on which the Secretary adjusts the contract term under subsection (b).


(As printed in the Congressional Record for the Senate on Mar 3, 2010.)