TIMBER BUYERS LICENSING

Amends the Timber Buyers Licensing Act. Provides that all timber buyers must possess a liability insurance policy in an appropriate amount pursuant to administrative rule prior to issuance of a timber buyers license and must keep the policy in force at all times while the license is in effect. Provides that every applicant for a timber buyers license shall submit, on a form provided by the Department of Natural Resources, a surety bond or letter of credit in a specified amount. Provides that all persons buying timber under the Act must possess a valid timber buyers license. Provides that when a timber buyer purchases timber in the State, the timber buyer shall submit a report to the Department of the purchase. Provides that the Department shall require timber growers who own 5 acres or more of timberland in any county to obtain a landowner timber number, or similar unique identifier from the Department, associated with their timberland before timber is cut for commercial purposes. Provides that landowner timber numbers will be dated and expire after 2 years unless extended by the Department by rule. Makes changes to provisions concerning definitions; application for licensure; bond; prohibited acts; license, issuance, validity, and certificate; application; records; penalties; license revocation; and seizure. Adds provisions concerning reporting a harvest fee. Amends the Seizure and Forfeiture Reporting Act. Provides that the Act applies to property seized or forfeited under the seizure provision of the Timber Buyers Licensing Act.