OR SB147

Renames the Elliott State Forest to the "Elliott State Research Forest" and transfers management from the State Board of Forestry to the State Land Board, with the dedicated purpose of maintaining a world-class research forest

Prohibits sale of forest lands but allows land exchanges that consolidate the forest and are of approximately equal value; county approval required for exchanges involving county-owned lands

Establishes the Elliott State Research Forest Account in the State Treasury to receive revenues from forest operations including timber sales, carbon credits, ecosystem services, and grants from public and private sources

Exempts Department of State Lands procurement for forest management from the Public Contracting Code and authorizes financing through certificates of participation for capital projects

Decouples the Elliott State Research Forest from Common School Fund obligations by repealing ORS 530.450 and removing Elliott State Forest references from Common School Forest Lands statutes