Timber Tax Act of 2005
Latest action · Sep 29, 2005 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedSep 29, 2005
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Timber Tax Act of 2005 - Amends the Internal Revenue Code to allow a tax deduction (available to taxpayers whether or not they itemize deductions) for up to 60% of gains from certain sales or exchanges of timber.
Cosponsors 31
Members who signed on, in the order they did. Signatures ran from Sep 29, 2005 to Jul 31, 2006; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-AR | Blanche L. Lincoln | Original | Sep 29, 2005 |
| R-TX | Kay Bailey Hutchison | Nov 2, 2005 | |
| R-MN | Norm Coleman | Nov 2, 2005 | |
| R-ID | Mike Crapo | Nov 3, 2005 | |
| D-AR | Mark L. Pryor | Nov 7, 2005 | |
| D-LA | Mary L. Landrieu | Nov 7, 2005 | |
| R-LA | David Vitter | Nov 8, 2005 | |
| R-MS | Thad Cochran | Nov 10, 2005 | |
| R-KY | Jim Bunning | Nov 16, 2005 | |
| R-GA | Johnny Isakson | Nov 16, 2005 | |
| R-NC | Richard Burr | Nov 16, 2005 | |
| R-GA | Saxby Chambliss | Nov 16, 2005 | |
| D-WA | Maria Cantwell | Dec 13, 2005 | |
| D-WA | Patty Murray | Dec 13, 2005 | |
| R-TX | John Cornyn | Dec 14, 2005 | |
| R-OK | James M. Inhofe | Dec 15, 2005 | |
| R-ME | Olympia J. Snowe | Jan 25, 2006 | |
| R-AL | Richard C. Shelby | Feb 8, 2006 | |
| R-ME | Susan M. Collins | Feb 8, 2006 | |
| R-AK | Ted Stevens | Feb 8, 2006 | |
| R-AK | Lisa Murkowski | Feb 16, 2006 | |
| R-VA | George Allen | Feb 28, 2006 | |
| R-SC | Lindsey Graham | Feb 28, 2006 | |
| R-IN | Richard G. Lugar | Mar 1, 2006 | |
| R-NC | Elizabeth Dole | Mar 6, 2006 | |
| R-AL | Jeff Sessions | Mar 7, 2006 | |
| R-WY | Craig Thomas | Apr 3, 2006 | |
| R-OK | Tom Coburn | Apr 6, 2006 | |
| R-MS | Trent Lott | Apr 24, 2006 | |
| R-SC | Jim DeMint | May 23, 2006 | |
| R-WY | Michael B. Enzi | Jul 31, 2006 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Referred Sep 29, 2005 |
Actions 2
Everything that happened, newest first.
- Sep 29, 2005Introduced in Senate
- Sep 29, 2005Read twice and referred to the Committee on Finance.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 109-65 | HEARING ON CORPORATE TAX REFORM109 pages | Ways and Means Committee | May 9, 2006 |
Related bills 3
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 3883 | Timber Tax Act of 2005 | Identical bill | Sep 22, 2005 |
| HR 5638 | Permanent Estate Tax Relief Act of 2006 | Related bill | Jun 26, 2006 |
| HR 5970 | Estate Tax and Extension of Tax Relief Act of 2006 | Related bill | Aug 3, 2006 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the Internal Revenue Code of 1986 to allow a deduction for qualified timber gains.
- Short Titles as Introduced
- Timber Tax Act of 2005
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Sep 29, 2005Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.