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HR 3302 111th Congress House Taxation Forests, forestry, trees Income tax exclusion Land transfers Land use and conservation Securities

Community Forestry Conservation Act of 2009

Introduced: July 22, 2009 Introduced by: Thompson, Mike Democratic · California See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 22, 2009
Referred to the House Committee on Ways and Means.
Jul 22, 2009
Introduced in House
 Plain-English summary Congressional Research Service

Community Forestry Conservation Act of 2009 - Provides for the treatment of qualified forest conservation bonds as tax-exempt facility bonds under the Internal Revenue Code. Defines "qualified forest conservation bonds" as bonds issued for certain forestry organizations within 48 months after the enactment of this Act. Requires 95 percent or more of the net proceeds of such bonds to be used for specified forestry project costs, including the acquisition of forest lands subject to a conservation restriction.

Exempts from income tax income, gains, and other tax incidents generated by certain harvesting activity on forest lands purchased with qualified forest conservation bonds.

What's happening now July 22, 2009

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1