Disaster Reforestation Act
Latest action · Feb 1, 2023 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.
- IntroducedFeb 1, 2023
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Disaster Reforestation Act
This bill sets forth a special rule for the tax deduction for casualty losses of uncut timber (including pre-merchantable timber). It provides that in losses of any uncut timber from fire, storm, wood-destroying insects or invasive species, severe drought, or from theft, the basis for determining the amount of the deduction for such loss shall not be less than the excess of the appraised value of such timber determined immediately before such loss was sustained, over the salvage value of such timber.
To be eligible for the casualty loss deduction, the uncut timber subject to the loss must be reforested not later than the close of the five-year period beginning on the date of the loss.
Cosponsors 10
Members who signed on, in the order they did. Signatures ran from Feb 1, 2023 to Sep 24, 2024, with 1 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-GA | Raphael G. Warnock | Original | Feb 1, 2023 |
| D-GA | Jon Ossoff | Feb 28, 2023 | |
| R-AL | Tommy Tuberville | Mar 8, 2023 | |
| R-AL | Katie Boyd Britt | Apr 27, 2023 | |
| R-LA | John Kennedy | Jun 14, 2023 | |
| R-MS | Cindy Hyde-Smith | Jan 25, 2024 | |
| R-ME | Susan M. Collins | Feb 26, 2024 | |
| I-ME | Angus S. King Jr. | Mar 19, 2024 | |
| R-AR | Tom Cotton | Apr 9, 2024 | |
| R-AR | John Boozman | Sep 24, 2024 |
Actions 2
Everything that happened, newest first.
- Feb 1, 2023Introduced in Senate
- Feb 1, 2023Read twice and referred to the Committee on Finance.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 655 | Disaster Reforestation Act | Related bill | Jan 31, 2023 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Feb 1, 2023Introduced 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.
