S. 2163, The Tax Relief for Private Forest Landowners Act of 2007

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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S. 2163 would amend the Internal Revenue Code of 1986 to allow income averaging for private forest landowners.

Detailed Summary

Tax Relief for Private Forest Landowners Act of 2007 - Amends the Internal Revenue Code to allow income averaging for individuals who sell or exchange timber, on the same basis as is currently allowed for individuals engaged in a farming or fishing business.

Status of the Legislation

Latest Major Action: 10/15/2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.

Points in Favor

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Points Against

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