S 402
110th Congress
Senate
Taxation
Capital gains tax
Commerce
Corporation taxes
Income tax
Lumber trade
Public Lands and Natural Resources
Tax deductions
Timber sales
Timber Tax Act of 2007
Introduced: January 25, 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
Jan 25, 2007
Read twice and referred to the Committee on Finance.
Jan 25, 2007
Introduced in Senate
Plain-English summary
Timber Tax Act of 2007 - Amends the Internal Revenue Code to allow a tax deduction (available to taxpayers whether or not they itemize deductions) for up to 60% of gains from certain sales or exchanges of timber.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1