SB184:

Forest Sustainability Fund; created.

Bill Summary:

Land use valuation for real estate devoted to forest use; creation of Forest Sustainability Fund. Creates the Forest Sustainability Fund, to be administered by the State Forester. Localities that have adopted a use value assessment and taxation program for real estate devoted to forest use are eligible to apply for an allocation from the Fund. Awards are proportionally based upon the amount of revenue forgone in the previous fiscal year by localities due to the use value program. This bill is identical to HB 180.