HR 1937 110th Congress House Taxation Capital gains tax Commerce Corporation taxes Excise tax Finance and Financial Sector Income tax Lumber trade Mining royalties Public Lands and Natural Resources Real estate investment Tax deductions Tax exemption Timber sales

Timber Revitalization and Economic Enhancement (TREE) Act of 2007

Introduced: April 19, 2007 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Apr 19, 2007

Referred to the House Committee on Ways and Means.

Apr 19, 2007

Introduced in House

Plain-English summary Congressional Research Service

Timber Revitalization and Economic Enhancement (TREE) Act of 2007 - Amends the Internal Revenue Code to: (1) allow a tax deduction for 60% of qualified timber gains; (2) exempt deductible timber gains from the excise tax on the undistributed income of real estate investment trusts (REITs); (3) provide for the treatment of timber gains as qualifying REIT income and for mineral royalty income as qualifying income for timber REITs; and (4) provide special rules relating to income limitations and prohibited transactions for timber REITs.

What's happening now April 19, 2007

Referred to the House Committee on Ways and Means.

Committees of jurisdiction 1