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WV HB5340

Bill

Official Source

Status

Introduced

2/9/2026

Primary Sponsor

Stanley Adkins

Click for details

Origin

House of Delegates

2026 Regular Session

AI Summary

  • Creates a new property tax classification for managed timberland of at least 1,000 acres that is leased for carbon credit income
  • Defines "carbon credit income" as at least $10,000 per annum based on a percentage of the land's assessed value
  • Properties in this new classification would be taxed at the same rate as Category A managed timberland, regardless of timber quality or growth stage
  • Requires landowners to have a formal lease contract where the lessee uses the land primarily for timber-related economic activities to qualify
  • Exempts properties generating less than $10,000 per annum in carbon credits and smaller than 100 acres from reclassification requirements

Legislative Description

Establishing a new classification for managed timberland leased for substantial income

Natural Resources

Last Action

To House Energy and Public Works

2/9/2026

Committee Referrals

Energy and Public Works2/9/2026

Full Bill Text

No bill text available