Renewable Resources Emergency Act of 1981

[AI summary unavailable — showing source text] Renewable Resources Emergency Act of 1981 - Authorizes the Secretary of Agriculture through 1983 to modify or terminate a timber contract made before enactment of this Act if all the concerned parties so request. Sets forth down payment and damage provisions. Prohibits tax deductions or credits to be taken for related expenses. Requires the Secretary to report to Congress semiannually. Requires the report for the June 30, 1983 period to recommend whether the contract authority provided by this Act should be extended. Directs the Secretary to hold hearings within 30 days in the western parts of Oregon and Washington to determine if local timber contracts should include price adjustment provisions based on the price of finished lumber. Directs the United States Trade Representative to compare Canadian and U.S. timber appraisal methods and to recommend to the appropriate congressional committees within 180 days whether import duties should be placed on Canadian wood products.…