Bill > S4251

This bill, the Loggers Economic Assistance and Relief Act, establishes a payment program to provide financial assistance to timber harvesting and timber hauling businesses that have experienced a loss of at least 10% of their gross revenue due to a major disaster, such as a natural disaster or insect infestation. The Secretary of Agriculture, through the Farm Service Agency, will administer the program and make payments to eligible entities, which are defined as businesses that harvested or hauled unrefined timber products in the previous calendar year. The payments will be equal to 10% of the eligible entity's gross revenue during the affected period, and the funds can only be used for operating expenses. The bill also requires the Secretary to submit annual reports to Congress detailing the payments made under the program. The bill authorizes $50 million in funding for each fiscal year from 2024 to 2028 to carry out the program.