HB 1267 - DIGEST

Finds that certain counties contain large tracks of federally owned timber lands. Since federal lands are not subject to county property taxation, the counties where federal timber land is located often suffer adverse fiscal consequences.

Finds that the United States Congress, in enacting 16 U.S.C. Sec. 500, intended to provide a financial benefit, in lieu of property tax payments, to the counties where the federal government has large timber land holdings. These payments are intended to benefit the disadvantaged home counties of federal timber land, and not the state in general.