Bill
SB 2816
Would boost the state income tax credit for approved reforestation practices to spur more reforestation projects, but SB 2816 died in committee and never became law.
Overview
- Purpose: To increase the amount of the income tax credit available for approved reforestation practices.
- Status: Died In Committee. The bill did not advance to enactment.
- Introduction: March 14, 2025
- Related bill: HB 3709 (House companion)
What the bill would do (key provisions)
- Modify the state income tax code to increase the credit for approved reforestation practices.
- The emphasis is on increasing the credit amount available to taxpayers who undertake eligible reforestation activities.
- Specific details (e.g., exact credit percentage, maximum credit, eligible projects, definitions, carryforward provisions) are not provided in the summary. The precise changes would be set forth in the bill’s text.
Who would be affected
- Taxpayers who undertake approved reforestation practices, including individuals and businesses in the forestry sector that qualify for the reforestation tax credit.
- States’ fiscal planning and revenue authorities, which would assess any potential impact on state revenue if the credit amount is increased and utilization changes.
- Related industries (e.g., forest management, landowners, environmental services) that participate in reforestation projects.
Procedural and timeline context
- 2025-01-20: Referred to Finance (initial committee assignment)
- 2025-02-26: Died In Committee (the bill did not progress past committee review)
- 2025-03-14: Received by the Secretary of the Senate; Filed
- 2025-04-07: Read first time; Referred to State Affairs
Notes:
- Although subsequent committee referrals and readings occurred after the initial death, the bill’s status as Died In Committee indicates it did not advance to floor consideration or enactment.
- The companion bill in the House, HB 3709, exists and would carry similar provisions if enacted.
Impact considerations
- If enacted, increasing the reforestation credit could incentivize more reforestation projects, potentially expanding forest cover and associated environmental benefits.
- Revenue impact to the state would depend on how aggressively the credit is utilized by taxpayers and any accompanying sunset or cap provisions.
- Since the bill died in committee, these potential effects are speculative and would require new or revived legislation to take effect.
Summary
SB 2816 aimed to enhance incentives for reforestation by increasing the income tax credit for approved practices. It progressed through initial readings and referrals but ultimately did not pass out of committee, leaving the proposed changes unrealized. The House companion HB 3709 would be a related vehicle for similar reform if reintroduced.
Compiled from official sources — confirm details with the bill’s official record.
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