H.R. 1444 · 116th Congress
Forest Recovery Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
CarterSponsor40 cosponsors · 11 D, 29 R
R
Babin
MC
D
Cartwright
ND
R
Dunn
MG
R
Guest
JH
R
Hice
TK
R
Kelly
RM
R
Marshall
CP
D
Pingree
AS
R
Scott
ST
R
Tipton
BW
R
Westerman
AK
D
Kuster
RA
R
Allen
TG
R
Graves
TY
R
Yoho
MR
R
Roby
SB
D
Bishop
JR
R
Rutherford
RA
R
Abraham
MR
R
Rogers
SP
R
Palazzo
JW
R
Wilson
BB
R
Byrne
AH
D
Hastings
JH
R
Hill
BM
R
Mast
TS
D
Sewell
AF
R
Ferguson
MM
R
Mullin
MJ
R
Johnson
EL
D
Luria
DS
D
Scott
DT
D
Trone
AS
D
Spanberger
ES
R
Stefanik
RN
R
Norman
AL
D
Lawson
DC
R
Collins
SD
R
DesJarlais
MB
R
Brooks11 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill modifies the tax deduction for casualty losses to establish special rules for losses of uncut timber.
What it does: CRS summary · Introduced in House · Feb 28, 2019
Forest Recovery Act
This bill modifies the tax deduction for casualty losses to establish special rules for losses of uncut timber.
In the case of the loss of uncut timber from fire, storm, other casualty, or theft, the basis used for determining the amount of the deduction may not be less than the excess of (1) the fair market value of the uncut timber determined immediately before the loss was sustained, over (2) the salvage value of the timber.
The rule applies only if (1) the timber was held for the purpose of being cut and sold, and (2) the uncut timber subject to the loss is reforested within five years of the loss.
The bill also exempts casualty losses from uncut timber from the rule restricting the deduction for personal casualty losses to losses attributable to a federally declared disaster.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Forest Recovery Act
Latest action (Feb 28, 2019): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Feb 28, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.