Exempts land sold or transferred to a governmental entity from additional tax if managed as designated forestland or timberland.

This bill exempts land classified under current use that is sold or transferred to a governmental entity from additional tax if the governmental entity manages the land in the same manner as designated forestland or timberland. It outlines conditions for removal of classification, including transfers to governmental entities, eminent domain, and natural disasters. It also specifies the calculation of additional tax, applicable interest, and penalty, and the imposition of these as a lien on the land.

Exempts land sold or transferred to a governmental entity from additional tax if managed as designated forestland or timberland.

This bill exempts land classified under current use that is sold or transferred to a governmental entity from additional tax if the governmental entity manages the land in the same manner as designated forestland or timberland. It outlines conditions for removal of classification, including transfers to governmental entities, eminent domain, and natural disasters. It also specifies the calculation of additional tax, applicable interest, and penalty, and the imposition of these as a lien on the land.