Sec. 3. Woodlands subject to management plan
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Paragraph
(2)of section 2032A(c) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph: Subparagraph
(E)shall not apply to any disposition or severance of standing timber on a qualified woodland if the harvest is— consistent with a written forest management plan developed under the Cooperative Forestry Assistance Act of 1978 ( 16 U.S.C. 2103a ), or an equivalent plan approved by the State Forester, conducted under the guidance of a qualified forestry professional (as determined by the Secretary in consultation with the United States Forest Service), or conducted on lands certified to a third-party audited forest certification system or similar land management protocol, as determined by the United States Forest Service. . The amendment made by subsection
(a)shall apply to the disposition or severance of standing timber after the date of the enactment of this Act.
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Sec. 3
Woodlands subject to management plan
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