ID H0011

Removes the requirement for the state tax commission to conduct forest management cost studies every five years and replaces it with periodic studies upon recommendation of the Committee on Forest Land Taxation Methodologies (CFTM) or when the commission deems appropriate based on evidence of significant trends in custodial expenses

Establishes that forest management cost studies shall be no more frequent than five years from the previous study and requires the CFTM to determine whether results will be incorporated into the forest land valuation process

Revises CFTM membership to clarify that four members must be selected from forest landowners owning not less than five thousand acres, with only one representative per individual business entity and affiliated entities counted as a single entity

Maintains the timber productivity valuation process for determining forest land values, including the guiding discount rate of 4% and real price appreciation rate of 1.25% until January 1, 2012

Allows the CFTM to meet periodically as determined by its chairman and retain a forest economist to advise the committee