Introduced
by
To authorize a property tax exemption for certain forestland that is productive of wood products and is managed for at least 40 years according to approved good forestry principles through a development rights agreement. Property meeting the specified requirements would be exempt from 18 mills of local school operating taxes, and instead the state would pay the amount of foregone revenue to the local school district out of its general fund revenue. Senate Bill 913 requires all or part the tax savings to be repaid if the property is removed from forestry in less than 40 years. This is part of a commercial forestry incentive package comprised of Senate Bills 912 to 919 and House Bills 5453 to 5468 and 5462.
Referred to the Committee on Agriculture, Forestry, and Tourism
Reported without amendment
With the recommendation that the substitute (S-2) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that phases in the program with annual caps on the number of acres statewide that can admitted to it each year, limits landowners to 320 acres in the program in a particular jurisdiction, and requires a 20 year forestry management agreement.
The substitute passed by voice vote
Passed in the Senate 38 to 0 (details)
To authorize a property tax exemption for certain forestland that is productive of wood products and is managed and harvested according to approved good forestry principles through a development rights agreement. Property meeting the specified requirements would be exempt from 18 mills of local school operating taxes, and instead the state would pay the amount of foregone revenue to the local school district out of its general fund revenue. Senate Bill 913 requires all or part the tax savings to be repaid if the property is removed from forestry.
Referred to the Committee on Conservation, Forestry, and Outdoor Recreation
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 104 to 0 (details)
To concur with the Senate-passed version of the bill.
