U.S. Rep. Buddy Carter (R-GA) on June 28 introduced a bipartisan bill that would amend the United States tax code to provide a special rule for losses of uncut timber due to natural disasters.
“Forestry is a vital part of rural economies all across our country, especially right here in Georgia,” Rep. Carter said. “Unfortunately, the current tax code provides no recourse for working forests struck by natural disasters.”
The current U.S. tax code restricts the ability of private forest landowners to claim losses from destroyed timber, thereby hindering their ability to reforest lands and promote environmental wellness, according to a bill summary provided by Rep. Carter’s staff.
To reduce this financial burden, Rep. Carter cosponsored the Disaster Reforestation Act, H.R. 4210, with bill sponsor U.S. Rep. Terri Sewell (D-AL), which aims to help working forests recover from natural disasters by recognizing the value of destroyed timber, the summary says.
“I’m proud to work with Congresswoman Sewell and our partners from across the country to address this issue,” said Rep. Carter. “The Disaster Reforestation Act will ensure timber farming is a viable way of life, protecting the many jobs and consumer products it supports and its positive impact to our environment.”
In addition to independent foresters and the Forest Landowners Association, H.R. 4210 is supported by the Southern Group of State Foresters, the American Forest Foundation, the National Association of State Foresters, the Society of American Foresters, F&W Forestry Services, the Association of Consulting Foresters, and the National Alliance of Forest Owners.