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Legislative Progress
Introduced
February 7, 2018
Latest Action
February 7, 2018
Primary Sponsor
Earl L. "Buddy" CarterRepublican(GA)
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
0pct
0d open
vs 7,393 other HR bills in the 115th — cohort avg 50d
Forest Recovery Act This bill amends the Internal Revenue Code, with respect to the 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.
These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.
Filing registrants (2)
2019 · second_quarter · Taxation/Internal Revenue Code
HR.4962-Forestry Recovery Act. Maintaining timber tax provisions that allow forest owners to pay capital gains on income from a timber sale, deduct forest management costs, and deduct reforestation costs; estate tax; estate tax repeal bills; casualty loss and hobby loss.
Client expense: $20,000 · Firm income: Not reported
Referred to the House Committee on Ways and Means.
Introduced in House
Congress.gov source codes: 1000, Intro-H
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2019 · second_quarter · Taxation/Internal Revenue Code
HR.4962-Forestry Recovery Act. Maintaining timber tax provisions that allow forest owners to pay capital gains on income from a timber sale, deduct forest management costs, and deduct reforestation costs; estate tax; estate tax repeal bills; casualty loss and hobby loss.
Client expense: $10,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2019 · first_quarter · Taxation/Internal Revenue Code
Maintaining timber tax provisions that allow forest owners to pay capital gains on income from a timber sale, deduct forest management costs, and deduct reforestation costs; estate tax; estate tax repeal bills; casualty loss and hobby loss. HR.4962-Forestry Recovery Act.
Client expense: $20,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2019 · first_quarter · Taxation/Internal Revenue Code
Maintaining timber tax provisions that allow forest owners to pay capital gains on income from a timber sale, deduct forest management costs, and deduct reforestation costs; estate tax; estate tax repeal bills; casualty loss and hobby loss. HR.4962-Forestry Recovery Act.
Client expense: $20,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, SENATE
2019 · first_quarter · Taxation/Internal Revenue Code
Maintaining timber tax provisions that allow forest owners to pay capital gains on income from a timber sale, deduct forest management costs, and deduct reforestation costs; estate tax; estate tax repeal bills; casualty loss and hobby loss. HR.4962-Forestry Recovery Act.
Client expense: Not reported · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, SENATE
2018 · fourth_quarter · Taxation/Internal Revenue Code
Maintaining timber tax provisions that allow forest owners to pay capital gains on income from a timber sale, deduct forest management costs, and deduct reforestation costs; estate tax; estate tax repeal bills; casualty loss and hobby loss. H.R. 4962-Forest Recovery Act
Client expense: Not reported · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, SENATE
2018 · third_quarter · Taxation/Internal Revenue Code
Maintaining timber tax provisions that allow forest owners to pay capital gains on income from a timber sale, deduct forest management costs, and deduct reforestation costs; estate tax; estate tax repeal bills; casualty loss and hobby loss. H.R. 4962-Forest Recovery Act
Client expense: Not reported · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, SENATE
2018 · second_quarter · Taxation/Internal Revenue Code
Maintaining timber tax provisions that allow forest owners to pay capital gains on income from a timber sale, deduct forest management costs, and deduct reforestation costs; estate tax; estate tax repeal bills; casualty loss and hobby loss. H.R. 4962-Forest Recovery Act
Client expense: $11,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, SENATE
2018 · first_quarter · Taxation/Internal Revenue Code
H.R.4962, Forest Recovery Act; issues related to the timber industry.
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2018 · first_quarter · Taxation/Internal Revenue Code
Maintaining timber tax provisions that allow forest owners to pay capital gains on income from a timber sale, deduct forest management costs, and deduct reforestation costs; estate tax; estate tax repeal bills; casualty loss and hobby loss. H.R. 4962-Forest Recovery Act
Client expense: $23,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, SENATE
| Republican |
| AL |
| Brian Babin | Republican | TX |
| Bruce Westerman | Republican | AR |
| Carol Shea-Porter | Democratic | NH |
| Chellie Pingree | Democratic | ME |
| Jody B. Hice | Republican | GA |
| Matt Cartwright | Democratic | PA |
| Mike Johnson | Republican | LA |
| Ralph Lee Abraham | Republican | LA |
| Roger Marshall | Republican | KS |
| Sanford D. Bishop, Jr. | Democratic | GA |
| Scott R. Tipton | Republican | CO |
| Steven M. Palazzo | Republican | MS |
| Tom Graves | Republican | GA |
| Trent Kelly | Republican | MS |