Reforestation Tax Act of 2003

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 of an individual who is a member of a closely held entity if management of such activity is less than 100 hours annually.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 9 July 2003

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 9 July 2003

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• Introduced in Senate

  summary · EN · 9 July 2003

  Open at official source

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