To authorize the Secretary of the Interior to grant market-related contract extensions of certain timber contracts between the Secretary of the Interior and timber purchasers.

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).
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