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S.402 - Federal Government - A bill to amend the Internal Revenue Code of 1986 to allow a deduction for qualified timber gains.

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A bill to amend the Internal Revenue Code of 1986 to allow a deduction for qualified timber gains.

1/25/2007--Introduced.

Timber Tax Act of 2007 - Amends the Internal Revenue Code to allow a tax deduction (available to taxpayers whether or not they itemize deductions) for up to 60% of gains from certain sales or exchanges of timber.

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Latest Actions

01/25/2007 - Read twice and referred to the Committee on Finance.

Bill Text

File name		Last Updated
	S.402 Introduced in Senate	08/31/2007

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Sponsor

Blanche L. Lincoln

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