SENATE BILL REPORT
This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent.
As of March 21, 2017
Title: An act relating to extending the expiration date for reporting requirements on timber purchases.
Brief Description: Extending the expiration date for reporting requirements on timber purchases.
Sponsors: Representatives J. Walsh, Chapman, Vick, Blake, Orcutt and Muri.
Brief History: Passed House: 3/08/17, 97-0.
Committee Activity: Natural Resources & Parks: 3/21/17.
SENATE COMMITTEE ON NATURAL RESOURCES & PARKS
Staff: Kelsey Morfitt (786-7407)
Background: Department of Revenue (DOR). Statute mandates that DOR supervise and administer tax assessments for real and personal property in a uniform manner across the state. This includes administering the state's tax on timber and forestlands.
Buyers who purchase 200,000 board feet or more of timber must report sale details to DOR. The report must include the total sale price and total acreage involved, among other details. The report is due by the end of the month in which the buyer purchased the timber.
Summary of Bill: The expiration of required reporting by timber purchasers is extended from July 1, 2018, to July 1, 2021.
Fiscal Note: Not requested.
Creates Committee/Commission/Task Force that includes Legislative members: No.
Effective Date: Ninety days after adjournment of session in which bill is passed.
Staff Summary of Public Testimony: PRO: The sunset every three years protects private landowners in case there is a big change in tax policy. Private forest landowners are taxed at 5 percent of gross revenues. The regional stumpage tax is based on timber value tables, which are derived from this reporting requirement.
Persons Testifying: PRO: Representative Jim Walsh, Prime Sponsor; John Ehrenreich, WFPA.
Persons Signed In To Testify But Not Testifying: No one.