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- S.1381
S.1381: Reforestation Tax Act of 2003
About This Bill
- This bill was introduced in the 108th Congress
- This bill is primarily about taxation
- Introduced July 9, 2003
- Latest Major Action July 9, 2003
- See the three similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
18 (7 Democrats, 12 Republicans)
Bill Summary
Reforestation Tax Act of 2003 - Amends the Internal Revenue Code to allow a deduction to a taxpayer who has a qualified timber gain in an amount equal to the qualified percentage of such gain. Allows a deduction, for qualified timber property, for reforestation expenditures and terminates current provisions allowing for the amortization of such expenditures. Provides for the application of passive activity loss limitations to timber activity...
(Source: Library of Congress)
Bill Actions
Date | Description |
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Sponsor introductory remarks on measure.
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Read twice and referred to the Committee on Finance.
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July 9, 2003 |
Introduced in the Senate by Olympia J. Snowe (R-Maine) |