Forestry Land Bills Signed Into Law

Filed under: U.P. News Updates |
GLR News Update

GLR News Update

Lansing, MI – (Great Lakes Radio News) – Legislation offered up by an Upper Michigan lawmaker concerning forest property has been signed into law.

The measure, sponsored by State Senator Tom Casperson, is part of a package of bills designed to allow eligible landowners to transfer commercial forest property into the Qualified Forest Program without penalty until September 1st, 2021.

It also provides a phase-in of the applicable tax rates following transfer.

The Escanaba Republican says Qualified Forest Program participants are eligible for certain tax benefits if they designate their land solely for forestry purposes.

They also must manage the property according to a department-approved forest management plan.

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