Renames the Elliott State Forest as the Elliott State Research Forest. Authorizes the State Land Board to manage, control and protect the forest as a world-class research forest. Restricts the ability of the board to sell land in the forest, but authorizes the board to expand or exchange land or timber to further the purposes of the forest as a research forest.
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Authorizes certificates of participation financing to finance capital projects or purchases related to the forest. Transfers the duties, functions, powers, rights and obligations related to the forest from the State Board of Forestry to the State Land Board.
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