Reps. Thompson, Reichert Introduce Forestry Conservation Tax Bill

Congressmen Mike Thompson (D-CA) and Dave Reichert (R-WA) today introduced the bipartisan Community Forestry Conservation Act (H.R. 1982), which would enable non-profit conservation organizations to use bonds to purchase private, working forests for long-term environmental and economic sustainability management. A broad coalition of conservationists, private landowners, and the timber industry endorsed the legislation for its pragmatic approach to balancing conservation and business interests.

“Working forests are an important source of jobs and income in Northern California,” said Rep. Thompson. “Our economy depends on healthy forests, and forest conservation bonds provide an important tool to preserve these resources. By encouraging sustainable management practices, this bill will save jobs and our nation's forests for future generations.”

“This important bill fosters needed public-private partnerships to meet the dual needs of conserving open spaces for future generations and sustaining the forest products jobs that depend on managing working forests,” said Congressman Reichert. “I'm proud to carry forward my predecessor Jennifer Dunn's legacy in sponsoring this pragmatic legislation that unites such diverse interests behind shared goals.”

“Community Forestry Bonds will help the Foundation keep our community forestry efforts moving forward", said Art Harwood, Executive Director of the Redwood Forest Foundation, a non-profit organization of diverse interests that acquire and manage forestlands in an equitable fashion. "Local control of the forest resources empowers local citizens to take control of their future.”

“We have long needed a mechanism that would make possible the re-engagement of communities with their productive lands,” said David Simpson, Co-Founder of the Mattole Restoration Council, one of North America's oldest community-led watershed restoration organizations. “Community Forestry Bonds provide a great mechanism for providing social and ecological stability that communities need with an increasing urgency.”

"Community Forestry Bonds are a great way to help acquire unique forest properties for conservation," said Jerry Brodie of The Campbell Group, one of the largest timberland investment managers with over 3 million acres in the United States. “Together businesses such as ours and the conservation community can use these bonds to support working forests that provide environmental benefits, living-wage jobs and a continued supply of forest products.”

“Forest conservation bonds are an innovative tool that enables the forest conservation and timber industry communities to join together to purchase working forests, prevent their development, and increase the level of environmental protection. It's a win-win for jobs and conservation at no significant cost to taxpayers,” said Athan Manuel, Director of the Lands Protection Program for the Sierra Club.

The US Forest Service estimates that over one million acres of America's private forests are lost each year to land conversion and development. H.R. 1982 modifies the tax code to allow municipal revenue bonds to be issued for the acquisition of forestland by a qualified buyer. The low-cost bonds would be backed by the revenue stream generated by the sustainable management of the land.

This new tool will provide a mechanism for acquisition of lands that are at a high risk of parcelization and for other lands that may be difficult for long-term commercial management. Such acquisition protects the land from development and fragmentation while allowing jobs that depend on harvesting to continue. The bill could conserve an estimated 2.2 million acres of working forests throughout the country.