3.0.0 1444 2022-11-01T17:03:34Z 2022-11-01T17:03:34Z House HR 2019-02-28 116 [Congressional Record Volume 165, Number 37 (Thursday, February 28, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. CARTER of Georgia:H.R. 1444.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8 of the Constitution.[Page H2316]]]> hswm00 Ways and Means Committee House Standing Referred to 2019-02-28T14:06:10Z Forest Recovery Act 116 1687 S 2019-05-23 Read twice and referred to the Committee on Finance. Identical bill CRS 2019-02-28 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2019-02-28 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-02-28 Introduced in House IntroReferral 1000 9 Library of Congress C001103 Rep. Carter, Earl L. "Buddy" [R-GA-1] Earl Carter R GA L. "Buddy" 1 N S001189 Rep. Scott, Austin [R-GA-8] Austin Scott R GA 8 2019-02-28 True P000597 Rep. Pingree, Chellie [D-ME-1] Chellie Pingree D ME 1 2019-02-28 True H001071 Rep. Hice, Jody B. [R-GA-10] Jody Hice R GA B. 10 2019-02-28 True M001198 Rep. Marshall, Roger [R-KS-1] Roger Marshall R KS 1 2019-02-28 True C001090 Rep. Cartwright, Matt [D-PA-8] Matt Cartwright D PA 8 2019-02-28 True W000821 Rep. Westerman, Bruce [R-AR-4] Bruce Westerman R AR 4 2019-02-28 True B001291 Rep. Babin, Brian [R-TX-36] Brian Babin R TX 36 2019-02-28 True T000470 Rep. Tipton, Scott R. [R-CO-3] Scott Tipton R CO R. 3 2019-02-28 True D000628 Rep. Dunn, Neal P. [R-FL-2] Neal Dunn R FL P. 2 2019-02-28 True K000388 Rep. Kelly, Trent [R-MS-1] Trent Kelly R MS 1 2019-02-28 True G000591 Rep. Guest, Michael [R-MS-3] Michael Guest R MS 3 2019-02-28 True K000382 Rep. Kuster, Ann M. [D-NH-2] Ann Kuster D NH M. 2 2019-03-06 False G000560 Rep. Graves, Tom [R-GA-14] Tom Graves R GA 14 2019-04-03 False A000372 Rep. Allen, Rick W. [R-GA-12] Rick Allen R GA W. 12 2019-04-03 False Y000065 Rep. Yoho, Ted S. [R-FL-3] Ted Yoho R FL S. 3 2019-04-03 False R000591 Rep. Roby, Martha [R-AL-2] Martha Roby R AL 2 2019-04-08 False B000490 Rep. Bishop, Sanford D., Jr. [D-GA-2] SANFORD BISHOP D GA D. 2 2019-04-30 False R000609 Rep. Rutherford, John H. [R-FL-4] John Rutherford R FL H. 4 2019-04-30 False A000374 Rep. Abraham, Ralph Lee [R-LA-5] Ralph Abraham R LA Lee 5 2019-05-07 False R000575 Rep. Rogers, Mike D. [R-AL-3] Mike Rogers R AL 3 2019-05-07 False P000601 Rep. Palazzo, Steven M. [R-MS-4] Steven Palazzo R MS M. 4 2019-05-10 False W000795 Rep. Wilson, Joe [R-SC-2] Joe Wilson R SC 2 2019-05-10 False B001289 Rep. Byrne, Bradley [R-AL-1] Bradley Byrne R AL 1 2019-05-15 False H000324 Rep. Hastings, Alcee L. [D-FL-20] ALCEE HASTINGS D FL L. 20 2019-05-22 False M001199 Rep. Mast, Brian J. [R-FL-18] Brian Mast R FL J. 18 2019-06-10 False H001072 Rep. Hill, J. French [R-AR-2] J. Hill R AR French 2 2019-06-10 False S001185 Rep. Sewell, Terri A. [D-AL-7] Terri Sewell D AL A. 7 2019-06-18 False F000465 Rep. Ferguson, A. Drew, IV [R-GA-3] A. Ferguson R GA Drew 3 2019-07-09 False M001190 Rep. Mullin, Markwayne [R-OK-2] Markwayne Mullin R OK 2 2019-07-15 False J000299 Rep. Johnson, Mike [R-LA-4] Mike Johnson R LA 4 2019-07-23 False T000483 Rep. Trone, David J. [D-MD-6] David Trone D MD J. 6 2019-09-09 False L000591 Rep. Luria, Elaine G. [D-VA-2] Elaine Luria D VA G. 2 2019-09-09 False S001157 Rep. Scott, David [D-GA-13] David Scott D GA 13 2019-09-09 False S001209 Rep. Spanberger, Abigail Davis [D-VA-7] Abigail Spanberger D VA Davis 7 2020-01-08 False S001196 Rep. Stefanik, Elise M. [R-NY-21] Elise Stefanik R NY M. 21 2020-02-07 False N000190 Rep. Norman, Ralph [R-SC-5] Ralph Norman R SC 5 2020-02-25 False L000586 Rep. Lawson, Al, Jr. [D-FL-5] Al Lawson D FL 5 2020-03-03 False C001093 Rep. Collins, Doug [R-GA-9] Doug Collins R GA 9 2020-05-12 False D000616 Rep. DesJarlais, Scott [R-TN-4] Scott DesJarlais R TN 4 2020-10-06 False B001274 Rep. Brooks, Mo [R-AL-5] Mo Brooks R AL 5 2020-10-30 False Taxation Disaster relief and insurance Forests, forestry, trees Income tax deductions Inflation and prices Taxation 00 2019-02-28 Introduced in House 2019-03-18T17:00:28Z Forest Recovery Act

This bill modifies the tax deduction for casualty losses to establish special rules for losses of uncut timber.

In the case of the loss of uncut timber from fire, storm, other casualty, or theft, the basis used for determining the amount of the deduction may not be less than the excess of (1) the fair market value of the uncut timber determined immediately before the loss was sustained, over (2) the salvage value of the timber.

The rule applies only if (1) the timber was held for the purpose of being cut and sold, and (2) the uncut timber subject to the loss is reforested within five years of the loss.

The bill also exempts casualty losses from uncut timber from the rule restricting the deduction for personal casualty losses to losses attributable to a federally declared disaster.

]]> Forest Recovery Act Display Title Forest Recovery Act Official Title as Introduced To amend the Internal Revenue Code of 1986 to provide a special rule for certain casualty losses of uncut timber. Introduced in House IH Short Title(s) as Introduced Forest Recovery Act Introduced in House IH Introduced in House 2019-02-28T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr1444ih/xml/BILLS-116hr1444ih.xml 2019-02-28 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.