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VICTORIA – Government today passed legislation to increase the B.C. Forestry Revitalization Trust Fund by $50 million to assist workers and contractors in the transition to a more diversified forest economy.
The legislation also increased the funds available for compensation of forest companies for lost logging rights and improvements such as roads and bridges by $50 million.
The B.C. Forestry Revitalization Trust Fund was established in March 2003 to provide assistance to workers and contractors affected by the 20 per cent timber reallocation under the province’s Forestry Revitalization Plan. The increase brings the fund to $125 million, and responds to the Trust Fund Advisory Board, which indicated additional funds were needed.
Timber being reallocated from B.C.’s largest tenure holders will be used to support a market-based timber pricing system under BC Timber Sales and provide new opportunities for First Nations, communities, and woodlots operators. These new tenure holders will benefit from the existing forestry infrastructure being paid for through the compensation fund, now at $250 million.
The bill also allocates $12.5 million for the reforestation of areas burned by the 2003 and 2004 wildfires that would not be treated otherwise. This funding is part of an overall $101 million program to address the economic impacts of the mountain pine beetle and forest fires announced in Budget 2005.
The B.C. Forestry Revitalization Trust is online at: http://www.bcfrt.com/.
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contact: |
Communications Director Ministry of Forests 250 387-8486 |
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Visit the Province's website at www.gov.bc.ca for online information and services. |
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