Community Forestry Conservation Act of 2007

Summary

Community Forestry Conservation Act of 2007- Provides for the treatment of qualified forest conservation bonds as tax-exempt facility bonds under the Internal Revenue Code. Defines "qualified forest conservation bonds" as bonds issued for certain forestry organizations within 36 months after the enactment of this Act. Requires 95 percent or more of the net proceeds of such bonds to be used for specified forestry project costs, including the acquisition of forest lands subject to a conservation restriction. Exempts from income tax income, gains, and other tax incidents generated by certain harvesting activity on forest lands purchased with qualified forest conservation bonds.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 2 August 2007

   Introduced

   Introduced in Senate

   Source: IntroReferral

2. 2 August 2007

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 2 August 2007 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 2 August 2007

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 2 August 2007

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 2 August 2007

  Open at official source

Sponsors

• Patty Murray · D · Sponsor
• Sen. Smith, Gordon H. [R-OR] · R · Sponsor
• Maria Cantwell · D · Sponsor
• · ssfi00 · Standing

Related records

• related to → Community Forestry Conservation Act of 2007