Bill > HB1389

This bill extends the expiration date for reporting requirements related to timber purchases from September 30, 2025, to September 30, 2029. Currently, when a person purchases more than 200,000 board feet of privately owned timber in a voluntary sale, they must report specific details about the transaction to the state department within the month following the purchase. The required report includes comprehensive information such as the names and contact details of the buyer and seller, sale date, total sale price, legal description of the sale area, forest practice application number, total acreage, estimated timber volume by species and log grade, and details about any property improvements associated with the sale. Purchasers who fail to submit the required report can be penalized $250 for each reporting failure, and these timber purchase reports are considered confidential taxpayer information. By extending the reporting requirement's expiration date to 2029, the bill ensures continued monitoring and documentation of significant timber sales in the state.