The House introduced bipartisan legislation Tuesday to provide tax deductions for timber growers to recover from the loss of forests destroyed by natural disasters.
Rep. Terri Sewell, D-Alabama, and Buddy Carter, R-Georgia, introduced H.R. 4210, the Disaster Reforestation Act of 2021, which would allow private forest owners and timber growers to claim a casualty loss for destroyed timber.
“Alabama’s beautiful forests keep our economy, our environment and our people healthy,” Sewell said in a statement. “But when disaster strikes, our private forest owners are often left devastated and without the ability to quickly recover. By fixing our Tax Code, the Disaster Reforestation Act offers a helping hand to Alabama’s private forest owners as they work to reforest after natural disasters.”
The bill would allow forest owners and timber growers to deduct the value of the timber damaged through a natural disaster like a wildfire or drought.
“Forestry is a vital part of rural economies all across our country,” said Carter in a statement. “Unfortunately the current Tax Code provides no recourse for working forests struck by natural disasters. I’m proud to work with Congresswoman Sewell and our partners from across the country to address this issue. 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.”
“Congressional lawmakers are looking at the country’s 455 million acres of private forests as a major solution to achieving a lower-carbon future, a significant contributor to clean air and water, and a way to protect wildlife,” said Forest Landowners Association CEO Scott Jones in a statement. “While these forests do provide all of these environmental benefits, we cannot keep counting on these forest landowners to maintain those forests when faced with the devastation of a natural disaster taking out their timber without the funds to help them recover. We need economically strong forest landowners, and the Disaster Reforestation Act is an important step in the right direction to keep these working forests healthy.”
The legislation received support from a number of industry groups, including the Forest Landowners Association, 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, the National Alliance of Forest Owners, and the Alabama Forestry Association.
