(a) The governor may propose to the legislature the establishment of state forests consisting primarily of commercially valuable forest land determined by the governor to be necessary for retention in state ownership for management under the principles of multiple use and sustained yield and consistent with AS 38.04.005. The proposal of the governor must include a report and recommendations of the commissioner including (1) a preliminary forest inventory;
(2) a summary of the testimony offered at public hearings held on the management of the proposed state forest in communities proximately located to a proposed state forest;
(3) [Repealed, § 16 ch 153 SLA 2003.] (4) [Repealed, § 16 ch 153 SLA 2003.] (5) an estimate of the cost of a full implementation of an operational level forest inventory and the management plan.
(b) A state forest established by the legislature shall be retained in state ownership.