To amend the Internal Revenue Code of 1986 to modify certain provisions relating to the treatment of forestry activities.
Reforestation Tax Act of 1998 - 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. Decreases the amortization period for reforestation expenditures.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Sponsor introductory remarks on measure. (CR E1222-1223)
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