SB 809
Modifying managed timberland certification requirements
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Sign in to take action- Introduced
- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill modifies the requirements for certifying managed timberland in West Virginia for tax assessment purposes. It mandates that timberland owners must now certify their property’s managed timberland status every five years to the Division of Forestry, and they must also adhere to best management practices outlined in a publication. The bill also grants the Division of Forestry rulemaking authority to establish and enforce these certification requirements.
Key provisions
- Timberland owners must now certify managed timberland status every five years.
- Certification requires adherence to ‘Best Management Practices for Forestry’ as outlined in a specific publication.
- The Division of Forestry is granted rulemaking authority to establish certification procedures.
- Managed timberland is valued according to its use and productive potential for tax assessment.
- The bill updates valuation methods for both industrial and natural resources property, including specific rules for oil, gas, and natural gas liquids.
- A safe harbor amount is established for actual annual operating costs for marginal wells.
- The State Tax Commissioner must collect and report information related to managed timberland valuation.
- An online renewal form will be created and maintained by the Division of Forestry.
Who is affected
- Timberland owners
- West Virginia Division of Forestry
- State Tax Commissioner
- County Assessors
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