Introduced
by
To authorize a property tax exemption for certain forestland that is productive of wood products and is managed for at least 40 years according to approved good forestry principles through a development rights agreement. Property meeting the specified requirements would be exempt from 18 mills of local school operating taxes, and instead the state would pay the amount of foregone revenue to the local school district out of its general fund revenue. House Bill 5457 requires all or part the tax savings to be repaid if the property is removed from forestry in less than 40 years. This is part of a commercial forestry incentive package comprised of Senate Bills 912 to 919 and House Bills 5453 to 5468 and 5462.
Referred to the Committee on Conservation, Forestry, and Outdoor Recreation
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 65 to 40 (details)
Referred to the Committee on Agriculture, Forestry, and Tourism
