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Timber Revitalization and Economic Enhancement Act of 2017

S. 524 · 115th Congress · Mar 2, 2017 · Lineage

A BILL

To amend the Internal Revenue Code of 1986 to make permanent certain provisions of the Heartland, Habitat, Harvest, and Horticulture Act of 2008 relating to timber.

Section 1 Short title

This Act may be cited as the “Timber Revitalization and Economic Enhancement Act of 2017”.

Sec. 2 Treatment of timber gains

(a)
In general— Paragraph (1) of section 1201(b) of the Internal Revenue Code of 1986 is amended by striking “beginning in” and inserting “beginning after”.
(b)
Effective date— The amendments made by this section shall apply to taxable years beginning after December 31, 2016.