What does Preamble of Save America’s Family Forests Act of 2026 do?

This bill proposes to amend the Internal Revenue Code of 1986. The proposed amendment concerns the allowance of limited full expensing of certain reforestation expenditures.

What does SHORT TITLE. of Save America’s Family Forests Act of 2026 do?

This bill is formally titled the Save America's Family Forests Act of 2026.

What does MODIFICATION OF REFORESTATION EXPENDITURE RULES. of Save America’s Family Forests Act of 2026 do?

This section modifies reforestation expenditure rules. The base expensing amount is increased to $30,000 and $15,000. An inflation adjustment is added for taxable years beginning after 2026.

What does TREATMENT OF REFORESTATION EXPENDITURES FOR QUALIFIED NATURAL of Save America’s Family Forests Act of 2026 do?

This section amends Part VI of subchapter B of chapter 1 of subtitle A of the Internal Revenue Code of 1986 by adding a new section, 194B. Section 194B allows a deduction for disaster-related reforestation expenditures on qualified timber property, up to $500,000 ($250,000 for married taxpayers filing separately) per property, or $1,000,000 ($500,000 for married taxpayers filing separately) in the aggregate. An election to claim this deduction must be made at a time and in a manner prescribed by the Secretary. Dollar amounts are adjusted for inflation beginning in taxable years after 2026. The term 'qualified natural disaster' is defined as any disaster determined by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act. If qualified timber property is disposed of within a 10-year period, it is treated as section 1245 property, and a portion of the deduction may be recaptured as ordinary income.

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Save America’s Family Forests Act of 2026

Last updated: 4/28/2026 · Introduced: 4/28/2026

Author: Earl Carter (R-GA)

TL;DR (AI)

The bill increases the base amount for full expensing of reforestation expenditures to $30,000 and $15,000, with inflation adjustments after 2026.
It establishes a new deduction of up to $500,000 (or $1,000,000 in aggregate) for reforestation expenses related to natural disasters declared by the President.
Disposing of reforestation property within 10 years may result in a portion of the deduction being recaptured as ordinary income.

119th Congressin committeeS. 4442(In Committee)Official page

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Other Sections

Includes provisions on preamble, short title., and 2 more.

4 sections

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