SB1593: Relating to timber taxation; providing that this Act shall be referred to the people for their approval or rejection.

Legislative Summary

The Act would impose a new tax on the gross proceeds from the sale of unprocessed timber cut on private land larger than 500 acres held in common ownership. The Act would provide funding to counties and to protect homes, neighborhoods and water supplies from wildfire damage. The Act would repeal the current forest products harvest tax. The Act will be referred to the people at the 2024 general election. (Flesch Readability Score: 63.3). Imposes a new tax on the gross proceeds from the sale of unprocessed timber harvested on private land in excess of 500 acres held in common ownership in this state. Repeals the current forest products harvest tax regime. Refers the Act to the people for their approval or rejection at the next general election.