US Congress House Bill 1444 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 30-11)
Status: Introduced on February 28 2019 - 25% progression, died in committee
Action: 2019-02-28 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

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.

Forest Recovery Act

Rep. Earl Carter [R-GA]	Rep. Austin Scott [R-GA]	Rep. Chellie Pingree [D-ME]	Rep. Jody Hice [R-GA]
Sen. Roger Marshall [R-KS]	Rep. Matthew Cartwright [D-PA]	Rep. Bruce Westerman [R-AR]	Rep. Brian Babin [R-TX]
Rep. Scott Tipton [R-CO]	Rep. Neal Dunn [R-FL]	Rep. Trent Kelly [R-MS]	Rep. Michael Guest [R-MS]
Rep. Ann Kuster [D-NH]	Rep. Tom Graves [R-GA]	Rep. Rick Allen [R-GA]	Rep. Ted Yoho [R-FL]
Rep. Martha Roby [R-AL]	Rep. Sanford Bishop [D-GA]	Rep. John Rutherford [R-FL]	Rep. Ralph Abraham [R-LA]
Rep. Mike D. Rogers [R-AL]	Rep. Steven Palazzo [R-MS]	Rep. Joe Wilson [R-SC]	Rep. Bradley Byrne [R-AL]
Rep. Alcee Hastings [D-FL]	Rep. Brian Mast [R-FL]	Rep. French Hill [R-AR]	Rep. Terri Sewell [D-AL]
Rep. Drew Ferguson [R-GA]	Sen. Markwayne Mullin [R-OK]	Rep. Mike Johnson [R-LA]	Rep. David Trone [D-MD]
Rep. Elaine Luria [D-VA]	Rep. David Scott [D-GA]	Rep. Abigail Spanberger [D-VA]	Rep. Elise Stefanik [R-NY]
Rep. Ralph Norman [R-SC]	Rep. Al Lawson [D-FL]	Rep. Doug Collins [R-GA]	Rep. Scott DesJarlais [R-TN]
Rep. Mo Brooks [R-AL]

Date	Chamber	Action
2019-02-28	House	Referred to the House Committee on Ways and Means.
2019-02-28	House	Introduced in House

SB1687 (Same As) 2019-05-23 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/1444/all-info
Text	https://www.congress.gov/116/bills/hr1444/BILLS-116hr1444ih.pdf