All Climate Events
Webinar: Policy Updates from Washington, DC Impacting Private Forest Ownership & Management
Tuesday, 24 August 2021, 11:00
Tuesday, August 24, 2021. 11:00 AM. Webinar: Policy Updates from Washington, DC Impacting Private Forest Ownership & Management. Scott Jones and Melinda Gable, Forest Landowners Association; Brian Johnson, the Vogel Group. Sponsored by the Forest Landowners Association. Register here.
If you own or manage private forests, join the Forest Landowners Association for their Summer Recess Policy Webinar for key insights on legislative and regulatory policy taking shape in Washington, DC. Updates will be provided on the Disaster Reforestation Act, which amends the casualty loss of timber section of the tax code to allow deduction of the value of damaged timber following a natural disaster, as well as tax proposals being considered that will impact forest landowners.
Private forest owners, who supply timber for local sawmills have suffered what has been called “generational” losses to an unimaginable number of acres of timberland across the country.
Even worse is that forest owners receive NO immediate federal assistance to salvage or clean up the damaged land, reforest it and return it to a state where both economic and environmental benefits are produced. Additionally, the current tax code provides an inequity that does not allow landowners to deduct the value of their damaged “timber crop”. Yet other agriculture producers receive USDA Crop Insurance as well as federal assistance. The Disaster Reforestation Act is gaining traction in Congress as a lifeline to forestry owners who have been nurturing their forests for decades waiting for their timber to be sold, only to watch their life’s work destroyed in a day. Learn more about the Disaster Reforestation Act and how you can help.
We will also provide the status of tax proposals in Congress, specifics that affect forestry, such as capital gains rate, stepped-up basis., and where these issues will be at the end of the calendar year.