Relating to forestry; prescribing an effective date; providing for revenue raising that requires approval by a three-fifths majority.

Imposes severance tax on owner of timber harvested from public or private forestland. Imposes tax at rates, determined under brackets according to acreage of forestland held in common ownership, multiplied by pond value of timber at time of harvest. Repeals forest products harvest taxes. Abolishes Emergency Fire Cost Committee. Abolishes Oregon Forest Land Protection Fund. Takes effect on 91st day following adjournment sine die.