LD 1165
pg. 4
Page 3 of 14 PUBLIC Law Chapter 644 Page 5 of 14
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LR 1927
Item 1

 
U. For income tax years beginning on or after January 1,
2015, the gain attributable to the sale of sustainably
managed, eligible timberlands as calculated in this
paragraph.

 
(1) As used in this paragraph, unless the context
otherwise indicates, the following terms have the
following meanings.

 
(a) "Commercial harvesting" or "commercially
harvested" means the harvesting of forest products
that have commercial value.

 
(b) "Eligible timberlands" means land of at least
10 acres located in the State and used primarily
for the growth of trees to be commercially
harvested. Land that would otherwise be included
within this definition may not be excluded because
of:

 
(i) Use of the land for multiple public
recreation activities;

 
(ii) Statutory or governmental restrictions
that prevent commercial harvesting of trees
or require a primary use of the land other
than commercial harvesting;

 
(iii) Deed restrictions, restrictive
covenants or organizational charters that
prevent commercial harvesting of trees or
require a primary use of land other than
commercial harvesting and that were effective
prior to January 1, 1982; or

 
(iv) Past or present multiple use for
mineral exploration.

 
(c) "Forest products that have commercial value"
means logs, pulpwood, veneer, bolt wood, wood
chips, stud wood, poles, pilings, biomass, fuel
wood, Christmas trees, maple syrup, nursery
products used for ornamental purposes, wreaths,
bough material or cones or other seed products.

 
(d) "Sustainably managed" means:

 
(i) A forest management and harvest plan, as defined in section
573, subsection 3-A, has been prepared for the eligible
timberlands


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