Income tax; increase amount of credit for approved reforestation practices.

SB 2816 would increase the income tax credit amount for private landowners who plant pine or hardwood trees on their nonindustrial lands for forest products. The bill raises the credit for approved practices like planting seedlings, direct seeding, or site preparation, with a yearly cap of $20,000 and a lifetime limit of $125,000. Landowners must have a certified forester verify their reforestation plan, and the credit is unavailable if they received cost-share funds for the same reforestation unless their income is below federal poverty levels. This bill, which died in committee in February 2025, does not apply to corporations that manufacture products or provide utility services.