Save America’s Family Forests Act of 2026
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Overview
The Save America’s Family Forests Act of 2026 modifies tax rules to encourage reforestation efforts following natural disasters. It increases the amount of expenses that can be deducted for reforestation activities, allowing for a base expensing of up to $30,000 and an inflation adjustment. Additionally, it creates a deduction for disaster-related reforestation expenditures on qualified timber property, up to $1,000,000, with adjustments for married taxpayers. The bill also includes provisions regarding recapture of deductions if the timber is sold within 10 years.
Key provisions
- Increases the base expensing amount for reforestation expenditures to $30,000.
- Provides an inflation adjustment to the base expensing amount, indexed to the cost-of-living.
- Allows a deduction for disaster-related reforestation expenditures up to $1,000,000 for qualified timber properties.
- Establishes rules for allocating deductions among members of controlled groups.
- Creates a 10-year recapture period for reforestation deductions upon the sale of qualified timber property.
- Defines ‘disaster-related reforestation expenditures’ to include costs related to uncut timber damaged by qualified natural disasters.
- Specifies that qualified natural disasters are determined by the President under the Stafford Disaster Relief Act.
- Addresses apportionment of deductions for trusts and estates.
Who is affected
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Sponsors
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2 on record
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