,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #addd  ,,in ,,the ,,house ,,of  
,,representatives  ,february #bh1       
#bjai,mr4 ,carter of ,georgia 7for      
himself1 ,mr4 ,austin ,scott of         
,georgia1 ,ms4 ,pingree1 ,mr4 ,hice of  
,georgia1 ,mr4 ,marshall1 ,mr4          
,cartwright1 ,mr4 ,westerman1 ,mr4      
,babin1 ,mr4 ,tipton1 ,mr4 ,dunn1 ,mr4  
,kelly of ,mississippi1 and ,mr4 ,guest7
 introduced the following bill2 which   
was referred to the ,committee on ,ways 
and ,means  ,a ,,bill  ,to amend the    
,internal ,revenue ,code of #aihf to    
provide a special rule for certain      
casualty losses of uncut timber4  #a4   
,short title ,this ,act may be cited as 
the ,forest ,recovery ,act4  #b4        
,casualty losses of uncut timber  7a7   
,in general ,section #afe7;b7 of the    
,internal ,revenue ,code of #aihf is    
amended--  7#a7 by striking ,for        
purposes of subsection 7a7 and inserting
 the following3  7#a7 ,in general ,for  
purposes of subsection 7a7  1 and  7#b7 

by adding at the end the following new  
paragraph3  7#b7 ,special rule for      
casualty loss of uncut timber  7,a7 ,in 
general ,in the case of the loss of any 
uncut timber from fire1 storm1 or other 
casualty1 or from theft1 the basis for  
determining the amount of the deduction 
for such loss 7as otherwise determined  
under paragraph 7#a77 shall not be less 
than the excess of--  7i7 the fair      
market value of such uncut timber       
determined immediately before such loss 
was sustained1 over  7ii7 the salvage   
value of such timber4  7,b7 ,exclusion  
of timber not held for sale             
,subparagraph 7,a7 shall not apply to   
any timber unless such timber is held   
for the purpose of being cut and sold4  
7,c7 ,inclusion of pre-merchantable     
timber ,for purposes of this paragraph1 
the term uncut timber shall not fail to 
include pre-merchantable timber4  7,d7  
,reforestation requirement ,subparagraph
 7,a7 shall not apply unless the uncut  
timber subject to the loss is reforested

 7with hardwoods1 softwoods1 or any     
combination thereof7 by planting1       
seeding1 or appropriate site            
preparation1 not later than the close of
 the #e-year period beginning on the    
date of such loss4  4  7b7 ,exception to
 repeal of personal casualty losses     
,section #afe7;h77#e77;,a7 is amended by
 inserting or a loss of uncut timber    
7within the meaning of subsection       
7b77#b77 to which subsection            
7b77#b77;,a7 applies after ,federally   
declared disaster 7as defined in        
subsection 7i77#e774  7c7 ,effective    
date ,the amendments made by this       
section shall apply to taxable years    
beginning after the date of the         
enactment of this ,act4