Disaster Reforestation Act

Bill Cassidy

Republican · LA · Senator

Source: Congress.gov · FEC

• Angus S. King Jr. (I-ME)Original· 2025-03-26
• Katie Boyd Britt (R-AL)Original· 2025-03-26
• Raphael G. Warnock (D-GA)Original· 2025-03-26
• Tommy Tuberville (R-AL)Original· 2025-03-26
• Jon Ossoff (D-GA)· 2025-04-28
• Susan M. Collins (R-ME)· 2025-04-28
• Cindy Hyde-Smith (R-MS)· 2025-10-28
• John Boozman (R-AR)· 2026-02-10

Read twice and referred to the Committee on Finance.

2025-03-26

Source: Congress.gov

This bill would likely provide tax incentives or credits to encourage property owners and companies to replant forests damaged by disasters like wildfires, hurricanes, or floods. By making reforestation more affordable through tax breaks, the legislation aims to help landowners, timber companies, and environmental groups restore forest ecosystems more quickly after natural disasters. The measure is currently under review by the Senate Finance Committee.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 1141 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S. 1141 To amend the Internal Revenue Code of 1986 to provide a special rule for certain casualty losses of uncut timber. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES March 26, 2025 Mr. Cassidy (for himself, Mr. Warnock, Mr. Tuberville, Mr. King, and Mrs. Britt) 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 provide a special rule for certain casualty losses of uncut timber. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Disaster Reforestation Act''. SEC. 2. CASUALTY LOSSES OF UNCUT TIMBER. (a) In General.--Section 165(b) of the Internal Revenue Code of 1986 is amended-- (1) by striking ``For purposes of subsection (a)'' and inserting the following: ``(1) In general.--For purposes of subsection (a)'', and (2) by adding at the end the following new paragraph: ``(2) Special rule for casualty loss of uncut timber.-- ``(A) In general.--In the case of the loss of any uncut timber from fire, storm, or other casualty, or from theft, the basis for determining the amount of the deduction for such loss (as otherwise determined under paragraph (1)) shall not be less than the excess of-- ``(i) the appraised value of such uncut timber determined immediately before such loss was sustained, over ``(ii) the salvage value of such timber. ``(B) Appraisal methods.-- ``(i) In general.--With respect to the appraisal of a timber casualty loss described in subparagraph (A)-- ``(I) the appraisal valuation date shall be not later than 1 year after the casualty loss, and ``(II) the appraisal shall-- ``(aa) conform to the Uniform Standards of Professional Appraisal Practice (USPAP), ``(bb) be limited to the value of the lost timber, and ``(cc) be completed by a Federal- or State-certified appraiser. ``(ii) Delay in completion of appraisal.-- ``(I) In general.--In the case of any taxpayer who is unable to obtain an appraisal described in clause (i) before the due date of the return of tax (including any extension of time for filing such return) for the taxable year in which the timber casualty loss occurred, the taxpayer may elect to-- ``(aa) with respect to the return of tax for such taxable year, include an estimate of the value of the uncut timber determined immediately before the loss was sustained, and ``(bb) upon completion of the appraisal within the period described in clause (i)(I), file an amended return for such taxable year with respect to any adjustment in taxable income as determined pursuant to subclause (II). ``(II) Adjustment of taxable income.--With respect to any taxpayer who elects to provide an estimate described in subclause (I)(aa) for any taxable year in which a timber casualty loss occurred, the taxable income of the taxpayer for such taxable year shall be increased or decreased, as applicable, by an amount equal to the difference between-- ``(aa) the appraised value of such uncut timber determined immediately before such loss was sustained, as determined pursuant to the appraisal described in clause (i), and ``(bb) the estimate provided by the taxpayer under subclause (I)(aa) with respect to such uncut timber. ``(C) Exclusion of timber not held for sale.-- Subparagraph (A) shall not apply to any timber unless such timber is held for the purpose of being cut and sold in connection with a trade or business that is not a passive…

activity within the meaning of section 469. ``(D) Inclusion of pre-merchantable timber.--For purposes of this paragraph, the term `uncut timber' shall not fail to include pre-merchantable timber. ``(E) Reforestation requirement.-- ``(i) In general.--Subparagraph (A) shall not apply unless the uncut timber subject to the loss is reforested (with hardwoods, softwoods, or any combination thereof) by planting, seeding, or appropriate site preparation, not later than the close of the 5- year period beginning on the date of such loss. ``(ii) Recapture.--The Secretary shall, by regulations, provide for recapturing the benefit of any deduction allowed under this section with respect to any uncut timber subject to loss to which subparagraph (A) applied if the taxpayer fails to comply with clause (i) during the period provided under such clause. ``(F) Other casualties.--For purposes of subparagraph (A), the term `other casualty' shall include loss of any uncut timber from-- ``(i) wood-destroying insects, ``(ii) wood-destroying invasive species, or ``(iii) severe drought.''. (b) Effective Date.--The amendments made by this section shall apply to losses sustained in taxable years beginning after the date of the enactment of this Act. <all>

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