SB157 Summary

• Establishes the Rural Logging Support Act of 2022 to support the forest product manufacturing sector through tax incentives and infrastructure improvements.

• Authorizes individual and corporate taxpayers to claim tax credits equal to contributions made to qualifying logging support organizations, capped at 50 percent of tax liability, with cumulative annual credits not exceeding $25,000,000.

• Requires logging support organizations to be 501(c)(3) nonprofits that distribute at least 90 percent of contributions as grants for rural bridge maintenance and construction, and onboard scale or technology installations for loggers.

• Permits qualifying vehicles equipped with onboard scales or portable scale documentation to transport forest products at weights up to 84,400 pounds (5-axle) or 90,400 pounds (6-axle), with no single axle exceeding 23,400 pounds, exempting them from standard axle weight restrictions.

• Tax credits become effective January 1, 2023, and may be carried forward for three years; Department of Revenue develops procedures for credit issuance and can bar noncompliant organizations from the program.