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Tax relief for timber losses due to disasters and reforestation requirement.

This act amends tax laws to provide greater tax deductions for timber losses caused by natural disasters like fires or droughts, provided the affected land is reforested. This aims to support the recovery and rebuilding of forests after damage. It offers financial relief to timber businesses and landowners.
Key points
Increased tax deductions for timber losses: Landowners and businesses can deduct more from their taxes if their timber is destroyed by fire, storm, insects, drought, or theft.
Reforestation requirement: To qualify for the deduction, the damaged area must be reforested within five years of the loss.
Appraisal by certified professional: The value of the loss must be assessed by a certified appraiser following specific standards.
Applies to timber held for sale: The relief only applies to timber intended for cutting and sale as part of a trade or business.
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Additional Information
Print number: 117_HR_4210
Sponsor: Rep. Sewell, Terri A. [D-AL-7]
Process start date: 2021-06-28
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Disaster Reforestation Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_4210.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-06-28.

What are the main provisions?

Key points include:

  • Increased tax deductions for timber losses: Landowners and businesses can deduct more from their taxes if their timber is destroyed by fire, storm, insects, drought, or theft.
  • Reforestation requirement: To qualify for the deduction, the damaged area must be reforested within five years of the loss.
  • Appraisal by certified professional: The value of the loss must be assessed by a certified appraiser following specific standards.
  • Applies to timber held for sale: The relief only applies to timber intended for cutting and sale as part of a trade or business.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Sewell, Terri A. [D-AL-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Environment Agriculture