Illinois Compiled Statutes 740 ILCS 185/1 – As used in this Act, unless the context otherwise requires, the …
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As used in this Act, unless the context otherwise requires, the term:
(a) “Stumpage value” means the value of timber as it stands uncut in terms of an amount per unit of volume expressed as dollar value per board foot for that portion of a tree or timber deemed merchantable by Illinois forest products markets.
(b) “Department” means the Department of Natural Resources.
(c) “Director” means the Director of Natural Resources.
(d) “Party” means any person, partnership, firm, association, business trust or corporation.
(e) “Protected land” means real property that is:
(1) subject to a permanent conservation right
(a) “Stumpage value” means the value of timber as it stands uncut in terms of an amount per unit of volume expressed as dollar value per board foot for that portion of a tree or timber deemed merchantable by Illinois forest products markets.
Terms Used In Illinois Compiled Statutes 740 ILCS 185/1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
- United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
(b) “Department” means the Department of Natural Resources.
(c) “Director” means the Director of Natural Resources.
(d) “Party” means any person, partnership, firm, association, business trust or corporation.
(e) “Protected land” means real property that is:
(1) subject to a permanent conservation right
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consistent with the Real Property Conservation Rights Act;
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(2) registered or designated as a Nature Preserve,
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buffer or Land and Water Reserve under the Illinois Natural Areas Preservation Act;
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(3) owned by a conservation land trust meeting
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requirements as set forth in Section 501(c) of the United States Internal Revenue Code; or
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(4) owned by a local, State, or federal agency with a
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mission that includes the conservation of natural resources or a related function for one or more conservation purposes, but not including parkways; and
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(5) not inclusive of residential, commercial, or
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other areas that are not subject to the aforementioned protections.
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(f) “Qualified professional forester or ecological restoration professional” means a person who holds any necessary licenses and has performed the type of remediation work necessary as part of the person’s profession for greater than 30% of his or her working hours during each of the preceding 3 years.