H.R.262

Disaster Reforestation Act amends the Internal Revenue Code to provide a special rule for casualty losses of uncut timber.

The Disaster Reforestation Act amends the Internal Revenue Code to provide a special rule for certain casualty losses of uncut timber. This includes losses from fire, storm, theft, wood-destroying invasive species, or severe drought. The basis for determining the amount of the deduction for such losses shall not be less than the excess of the appraised value of the uncut timber determined immediately before the loss over the salvage value of such timber.