To amend the Internal Revenue Code of 1986 to deny any deduction for expenses in connection with the cutting of old-growth redwood timber which is a nonrenewable resource and to impose an excise tax on the cutting of such timber.

Summary

Amends the Internal Revenue Code to deny an income tax deduction for expenses in connection with: (1) the cutting of old-growth redwood timber; or (2) the transportation of such timber in its unprocessed state. Imposes an excise tax on the cutting of any old-growth redwood timber, to be paid by the holder of the economic interest in the timber.

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2 official files

• Introduced in House (text)

  Introduced in House · EN

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• Introduced in House

  summary · EN · 1 March 1990

  Open at official source

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