S. 2768 · 117th Congress
Disaster Reforestation Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
CassidySponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill sets forth a special rule for the tax deduction for casualty losses of uncut timber (including pre-merchantable timber).
What it does: CRS summary · Introduced in Senate · Sep 21, 2021
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Disaster Reforestation Act
Latest action (Sep 21, 2021): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Sep 21, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.