New Developments > Legislative Updates

House of Representatives:

Bill No.	Title	Status
H.R. 3970	Tax Reduction and Reform Act of 2007 Extension of provision encouraging contributions of capital gain real property made for conservation purposes. The bill would extend for one year the current-law increased contribution limits and carryforward period for amounts in excess of these limits for contributions of appreciated real property (including partial interests in real property) for conservation purposes.	In the House of Representatives	Summary
H.R. 1937	Timber Revitalization and Economic Enhancement (TREE) Act of 2007 The Timber Revitalization and Economic Enhancement (TREE) Act of 2007 amends the Internal Revenue Code to: (1) allow a tax deduction for 60% of qualified timber gains; (2) exempt deductible timber gains from the excise tax on the undistributed income of real estate investment trusts (REITs); (3) provide for the treatment of timber gains as qualifying REIT income and for mineral royalty income as qualifying income for timber REITs; and (4) provide special rules relating to income limitations and prohibited transactions for timber REITs	In the House of Representatives	Sumary
H.R. 6	Energy Advancement and Investment Act of 2007	In the Senate	Summary

U.S. Senate:

Bill No.	Title	Status

 

Forest Landowners Tax Council

The Forest Landowners Tax Council (FLTC) is an independent, national non-profit organization dedicated to providing an effective and unified voice for non-industrial, private forest (NIPF) landowners on federal tax issues...|Current News|