Reforestation Tax Act of 1995

Summary

Reforestation Tax Act of 1995 - Amends the Internal Revenue Code to provide taxpayers a partial inflation adjustment for the deduction from gross income for qualified timber gain. Allows such deduction in computing adjusted gross income. Excludes from conditions of the material participation rules, for purposes of the passive loss limitations, closely held timber activity if the aggregate hours devoted to management of the activity for any year is generally fewer than 100 hours. Increases the amount allowable as a deduction for amortization of reforestation expenditures and provides an inflation adjustment after calendar year 1995. Applies such inflation adjustment to the reforestation credit. Shortens the amortization period from 84 to 60 months.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 7 March 1995

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 7 March 1995

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 7 March 1995

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.