Disaster Reforestation Act

Hozzl · 2022-12-31T04:58:31Z

Explore the details of House Bill 4210 Disaster Reforestation Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/31/2022, 4:58 AM

Summary of Bill HR 4210

Bill 117 HR 4210, also known as the Disaster Reforestation Act, is a piece of legislation introduced in the US Congress. The purpose of this bill is to provide funding and support for reforestation efforts in areas that have been affected by natural disasters such as wildfires, hurricanes, and other catastrophic events.

The bill aims to address the significant loss of trees and vegetation that occurs during these disasters, which can have long-lasting environmental and economic impacts. By providing resources for reforestation, the bill seeks to restore damaged ecosystems, improve air and water quality, and support wildlife habitats.

Specifically, the Disaster Reforestation Act allocates funding for the replanting of trees in affected areas, as well as for the maintenance and care of newly planted trees. The bill also includes provisions for research and monitoring to ensure the success of reforestation efforts and to promote sustainable practices. Overall, the Disaster Reforestation Act is a bipartisan effort to address the environmental challenges posed by natural disasters and to promote the health and resilience of our nation's forests. It represents a commitment to conservation and sustainability, and aims to protect and restore our natural resources for future generations.

Congressional Summary of HR 4210

Disaster Reforestation Act

This bill sets forth a special rule for the tax deduction for casualty losses of uncut timber (including pre-merchantable timber). It provides that in losses of any uncut timber from fire, storm, insects, invasive species, drought, or other casualty, or from theft, the basis for determining the amount of the deduction for such loss shall not be less than the excess of the value of such timber determined immediately before such loss was sustained, over the salvage value of such timber.

To be eligible for the casualty loss deduction, the uncut timber subject to the loss must be reforested not later than the close of the five-year period beginning on the date of the loss.

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Current Status of Bill HR 4210

Bill HR 4210 is currently in the status of Bill Introduced since June 28, 2021. Bill HR 4210 was introduced during Congress 117 and was introduced to the House on June 28, 2021. Bill HR 4210's most recent activity was Referred to the House Committee on Ways and Means. as of June 28, 2021