Establishes Elliott State Research Forest consisting of lands formerly constituting Elliott State Forest. Declares Oregon State University's Elliott State Research Forest Proposal accepted and amended by State Land Board. Provides for further amendments to proposal by university under certain circumstances. Creates Elliott State Research Forest Authority to administer Elliott State Research Forest. Provides that authority shall be governed by board of directors to which voting members are appointed by State Land Board. Describes duties of board of directors. Provides that board of directors constitutes governing body of authority for purposes of public meetings statutes. Describes duties and powers of State Land Board related to forest. Describes duties of executive director of authority. Describes powers of authority. Provides that requirements of public records statutes apply to authority. Provides that requirements of Administrative Procedures Act do not apply to actions of authority or board of directors. Creates exception allowing judicial review of action principally concerning person's individual rights. Creates exception allowing judicial review of certain other actions. Authorizes board of directors to request revenue bonding to be used for owning, operating or administering forest. Authorizes board of directors to request certain general obligation bonding to be used for owning and operating forest.] Authorizes use of certificates of participation financing to finance capital projects or purchases related to owning, operating or administering forest. Provides that provisions related to forest become operative on January 1, 2024, only if certain events occur on or before July 1, 2023. Takes effect on 91st day following adjournment sine die.