FINAL BILL REPORT
HB 1148
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. |
C 55 L 17
Synopsis as Enacted
Brief Description: Extending the expiration date for reporting requirements on timber purchases.
Sponsors: Representatives J. Walsh, Chapman, Vick, Blake, Orcutt and Muri.
House Committee on Agriculture & Natural Resources
Senate Committee on Natural Resources & Parks
Background:
Every harvester of timber must pay an excise tax of 5 percent of the stumpage value of any trees that they harvest. The excise tax applies to timber harvested from private and public lands.
Every purchaser of more than 200,000 board feet of privately owned timber in a voluntary sale must report the purchase to the Department of Revenue (Department) on or before the last day of the month in which the purchase took place. The purchaser must report information related to the value of the purchase including:
purchaser's name, address, and contact information;
seller's name, address, and contact information;
sale date;
termination date in sale agreement;
total sale price;
legal description of sale area;
sale name, if applicable;
forest practice application or harvest permit number if available;
total acreage involved in sale;
estimated net volume of timber purchased by tree species and log grade; and
description and value of property improvements such as land clearing, reforestation, or road improvements.
The Department may assess a penalty of $250 for failure to report the required information.
Information gathered in the reports is used by the Department to establish stumpage value tables. A stumpage value table must be prepared for each species of tree that is commercially harvested in Washington. The table values indicate the amount that each species would sell for at a voluntary sale made in the ordinary course of business. Stumpage value tables are used to calculate the excise tax due from each timber harvester.
The requirement to report sales information to the Department expires on July 1, 2018.
Summary:
The expiration date for the requirement to report data to the Department about timber purchases is extended from July 1, 2018, to July 1, 2021.
Votes on Final Passage:
House | 97 | 0 | |
Senate | 48 | 0 |
Effective: | July 23, 2017 |