(1) All revenues derived from lands acquired without cost to the state, or acquired from counties pursuant to ORS § 530.030, shall be paid into the State Treasury and credited to the State Forestry Department Account and shall be used in accordance with the following distribution:

(a) Fifteen percent shall be credited to the State Forests Protection Subaccount of the State Forestry Department Account until the amount in such subaccount reaches $475,000. Thereafter, the revenues shall be disposed of as stated in paragraphs (b) and (c) of this subsection, unless needed to maintain the $475,000 level. All moneys in the State Forests Protection Subaccount are continuously appropriated to the State Forester who may use such money under the following priorities:

(A) First, in addition to or in lieu of other moneys available, to pay the cost of protection, as determined under ORS § 477.270, for lands acquired under ORS § 530.010 to 530.040.

(B) Second, to provide moneys needed for activities authorized by subsection (3) of this section.

(C) From remaining moneys, to pay costs incurred in the suppression of fire originating on or spreading from an operation area, as defined in ORS § 477.001, on state-owned forestland acquired under ORS § 530.010 to 530.040. The State Forester shall make payments with approval of the State Board of Forestry for such fire suppression costs, except that no payments shall be made for such costs or portion thereof when other parties are responsible under law or contracts for the payment of such costs.

(b) Seventy-five percent of all such revenues remaining after the percentage disposed of as stated in paragraph (a) of this subsection, shall be disposed of as provided in ORS § 530.115.

(c) Twenty-five percent of all such revenues remaining after the percentage disposed of as stated in paragraph (a) of this subsection, shall be used for the purposes set out in subsection (3) of this section.

(2) Except as provided in ORS § 530.147 and 530.280, all revenues from lands other than lands designated in subsection (1) of this section, acquired under ORS § 530.010 to 530.040, shall be paid into the State Treasury and credited to the State Forestry Department Account and shall be used in accordance with the following distribution:

(a) Until each legal subdivision of the lands has been credited with an amount equal to the purchase price thereof, the revenues shall reimburse the State Forestry Department Account. If sufficient revenue to reimburse the State Forestry Department Account is not generated from the purchased parcels within five years from the date of acquisition, the State Forester, with the consent of the affected county, shall deduct all or portions of the unreimbursed purchase costs from the revenue distributed to that county in accordance with ORS § 530.115 (1). After the State Forestry Department Account has been reimbursed for the purchase price of the lands, the revenue from the lands shall be distributed according to the formula specified in paragraphs (b), (c) and (d) of this subsection.

(b) The percentage required under subsection (1)(a) of this section shall be credited to the State Forests Protection Subaccount, and the revenues shall be disposed of as stated in paragraphs (c) and (d) of this subsection.

(c) Seventy-five percent of all such revenues remaining after paragraphs (a) and (b) of this subsection have been complied with, shall be disposed of as provided in ORS § 530.115.

(d) Twenty-five percent of all such revenues remaining after the percentage disposed of as stated in paragraphs (a) and (b) of this subsection, shall be used for the purposes set out in subsection (3) of this section.

(3) Unless otherwise consented to in advance and in writing by the counties from which the state has acquired lands without cost to the state or pursuant to ORS § 530.130, the moneys in the State Forestry Department Account derived from those percentages of revenues set out in subsections (1)(c) and (2)(d) of this section shall be used exclusively for the following purposes and in the following order:

(a) First, for the payment of bond related costs for bonds issued under ORS § 530.140 prior to July 28, 2009.

(b) Second, to the Forest Acquisition County Reimbursement Fund to the extent necessary for paying tax revenue reimbursements to counties under ORS § 530.175.

(c) Third, for such other purposes as are necessary in carrying out ORS § 530.010 to 530.110. [Amended by 1953 c.65 § 5; 1957 c.83 § 14; 1965 c.317 § 6; 1965 c.423 § 2; 1969 c.428 § 1; 1991 c.459 § 423; 1991 c.876 § 1; 1997 c.249 § 180; 2007 c.911 § 8; 2009 c.831 10,11]