Timber Revitalization and Economic Enhancement Act of 2017

Bill: 115-s-524
Sponsor: full_name: Sen. Boozman, John [R-AR]
Introduced: 2017-03-02
Policy area: Taxation
Subjects: Capital gains tax

Forests, forestry, trees

Income tax rates
Latest action: action_date: 2017-03-02
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2017-03-02
action_desc: Introduced in Senate
text: <p><strong>Timber Revitalization and Economic Enhancement Act of 201</strong><b>7</b></p> <p>This bill amends the Internal Revenue Code to make permanent the reduced tax rate for corporations that have both net capital gains and timber gains. </p> <p>

tv_txt: II 115th CONGRESS 1st Session S. 524 IN THE SENATE OF THE UNITED STATES March 2, 2017 Mr. Boozman (for himself, Mr. Brown , Mr. Cochran , Mr. Cotton , Mr. Isakson , and Mr. Wicker ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to make permanent certain provisions of the Heartland, Habitat, Harvest, and Horticulture Act of 2008 relating to timber.

1. Short title This Act may be cited as the Timber Revitalization and Economic Enhancement Act of 2017 . 2. Treatment of timber gains (a) In general Paragraph (1) of section 1201(b) of the Internal Revenue Code of 1986 is amended by striking beginning in and inserting beginning after . (b) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2016.