,,ii  #aaith ,,congress  #b;d ,session  
,s4 #dddb  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,april #bi1    
#bjbf,mr4 ,cassidy 7for himself and ,mr4
 ,warnock7 introduced the following     
bill2 which was read twice and referred 
to the ,committee on ,finance  ,a ,,bill
  ,to amend the ,internal ,revenue ,code
 of #aihf to allow for limited full     
expensing of certain reforestation      
expenditures4  #a4 ,short title ,this   
,act may be cited as the ,save          
,america's ,family ,forests ,act of     
#bjbf4  #b4 ,modification of            
reforestation expenditure rules  7a7    
,increase in base expensing amount      
,section #aid7;b77#a77;,b7 of the       
,internal ,revenue ,code of #aihf is    
amended-- 7#a7 in clause 7i71 by        
striking #aj1jjj and inserting #cj1jjj1 
and  7#b7 in clause 7ii71 by striking   
#e1jjj and inserting #ae1jjj4  7b7      
,inflation adjustment for base expensing
 ,section #aid7;b77#a7 of such ,code is 
amended by adding at the end the        

following new subparagraph3  7,c7       
,inflation adjustment  7i7 ,in general  
,in the case of any taxable year        
beginning after #bjbf1 each dollar      
amount in subparagraph 7,b7 shall be    
increased by an amount equal to-- 7,i7  
such dollar amount1 multiplied by       
7,,ii7 the cost-of-living adjustment    
determined under section #a7;f77#c7 for 
the calendar year in which the taxable  
year begins1 determined by substituting 
calendar year #bjbe for calendar year   
#bjaf in subparagraph 7,a77ii7 thereof4 
7ii7 ,rounding ,if any increase         
determined under clause 7i7 is not a    
multiple of #ajj1 such increase shall be
 rounded to the nearest multiple of     
#ajj4  4  7c7 ,effective date ,the      
amendments made by this section shall   
apply to amounts paid or incurred in    
taxable years beginning after ,december 
#ca1 #bjbf4  #c4 ,treatment of          
reforestation expenditures for qualified
 natural disasters  7a7 ,in general     
,part ,,vi of subchapter ,b of chapter  

#a of subtitle ,a of the ,internal      
,revenue ,code of #aihf is amended by   
inserting after section #aid;,a the     
following new section3  #aid;,b4        
,treatment of reforestation expenditures
 for qualified natural disasters  7a7   
,in general  7#a7 ,in general ,in the   
case of any qualified timber property   
with respect to which the taxpayer has  
made an election under this section1    
there shall be allowed a deduction for  
the taxable year in an amount equal to  
the lesser of-- 7,a7 so much of the     
disaster-related reforestation          
expenditures paid or incurred by the    
taxpayer during such taxable year with  
respect to each qualified timber        
property of the taxpayer as does not    
exceed #ejj1jjj 7#bej1jjj in the case of
 a married taxpayer filing separately7  
with respect to any such property1 or   
7,b7 #a1jjj1jjj 7#ejj1jjj in the case of
 a married taxpayer filing separately71 
in the aggregate for all qualified      
timber properties with respect to       

disaster related-reforestation          
expenditures4  7#b7 ,election ,an       
election under this section shall be    
made at such time and in such manner as 
the ,secretary may prescribe1 including 
on an amended return4  7#c7             
,determination of marital status ,for   
purposes of this section1 marital status
 shall be determined under section      
#ggjc7;a74  7#d7 ,inflation adjustment  
7,a7 ,in general ,in the case of any    
taxable year beginning after #bjbf1 each
 of the dollar amounts in paragraph 7#a7
 shall be increased by an amount equal  
to-- 7i7 such dollar amount1 multiplied 
by  7ii7 the cost-of-living adjustment  
determined under section #a7;f77#c7 for 
the calendar year in which the taxable  
year begins1 determined by substituting 
calendar year #bjbe for calendar year   
#bjaf in subparagraph 7,a77ii7 thereof4 
7,b7 ,rounding ,if any increase under   
subparagraph 7,a7 is not a multiple of  
#ajj1 such increase shall be rounded to 
the nearest multiple of #ajj4  7#e7     

,controlled groups  7,a7 ,in general ,in
 the case of a controlled group of      
corporations or trades or businesses    
under common control1 the limitations of
 paragraph 7#a7 shall be allocated among
 the members of such group in accordance
 with regulations prescribed by the     
,secretary4  7,b7 ,definition ,for      
purposes of subparagraph 7,a71 the term 
controlled group has the meaning given  
to the term controlled group of         
corporations in section #aefc7;a71      
except that section #aefc7;a77#a7 shall 
be applied by substituting more than #ej
 percent for at least #hj percent in    
each instance4  7,c7 ,pass thru entity  
,in the case of a partnership or ,s     
corporation1 the aggregate amount       
described in paragraph 7#a77;,b7 shall  
be applied at the partnership or ,s     
corporation level1 respectively4  7b7   
,definitions and special rules ,for     
purposes of this section-- 7#a7         
,disaster-related reforestation         
expenditures  7,a7 ,in general ,the term

 disaster-related reforestation         
expenditures means reforestation        
expenditures paid or incurred in        
connection with uncut timber that was   
damaged or destroyed as a direct result 
of a qualified natural disaster which   
occurred during the #e-year period      
ending on the date on which such        
reforestation occurs1 determined without
 regard-- 7i7 to any expenditure with   
respect to which the taxpayer has       
received reimbursement under any        
governmental reforestation cost-sharing 
program unless the amounts so reimbursed
 have been included in the gross income 
of the taxpayer1 and  7ii7 any          
expenditures with respect to which a    
deduction is allowed under section      
#aid7;a74  7,b7 ,qualified timber       
property2 reforestation expenditures2   
cost-sharing programs ,the terms        
qualified timber property1 reforestation
 expenditures1 and cost-sharing programs
 have the meanings given such terms in  
section #aid7;c74  7,c7 ,uncut timber   

,the term uncut timber means1 with      
respect to a qualified natural disaster1
 standing timber that had not been      
harvested1 severed1 or otherwise cut    
before such qualified natural disaster  
occurred4  7,d7 ,qualified natural      
disaster ,the term qualified natural    
disaster means any disaster determined  
by the ,president under section #dja of 
the ,robert ,t4 ,stafford ,disaster     
,relief and ,emergency ,assistance ,act4
  7#b7 ,treatment of trusts and estates 
,the aggregate amount of                
disaster-related reforestation          
expenditures incurred by any trust or   
estate shall be apportioned between the 
income beneficiaries and the fiduciary  
under regulations prescribed by the     
,secretary4  7#c7 ,coordination with    
other deductions ,no deduction shall be 
allowed under any other provision other 
this chapter with respect to any        
expenditure with respect to which a     
deduction is allowed or allowable under 
subsection 7a7 to the taxpayer4  7c7    

,recapture upon early disposition  7#a7 
,in general ,if a taxpayer disposes of  
any qualified timber property 7or any   
timber thereon7 with respect to which a 
deduction was allowed under subsection  
7a7 within the #aj-taxable-year period  
beginning with the taxable year in which
 such deduction was claimed1 such       
property shall be treated as section    
#abde property1 and the amount required 
to be recaptured as ordinary income     
shall be determined under section #abde 
and included in gross income for the    
taxable year of disposition4  7#b7      
,recapture amount ,for purposes of      
applying section #abde1 the amount      
subject to recapture shall not exceed   
the deduction allowed under subsection  
7a7 with respect to such property4  7#c7
 ,partial dispositions ,in the case of a
 disposition of only a portion of the   
qualified timber property1 the          
applicable portion of the deduction     
allowed under subsection 7a7 shall be   
subject to recapture under section #abde

 in the same proportion that the        
disposed portion bears to the entire    
property4  7#d7 ,exceptions ,paragraph  
7#a7 shall not apply to a disposition   
which occurs by reason of-- 7,a7        
casualty1 condemnation1 or governmental 
taking1 or  7,b7 death of the taxpayer4 
7d7 ,regulations ,the ,secretary shall  
prescribe such regulations as necessary 
or appropriate to carry out this        
subsection1 including rules for         
determining proportional allocations4  4
  7b7 ,clerical amendment ,the table of 
section for part ,,vi of subchapter ,b  
of chapter #a of subtitle ,a is amended 
by inserting after the item relating to 
section #aid;,a the following new item3 
,sec4 #aid;,b4 ,treatment of            
reforestation expenditures for qualified
 natural disasters4  4  7c7 ,effective  
date ,the amendments made by this       
section shall apply to amounts paid or  
incurred in taxable years beginning     
after ,december #ca1 #bjbf4