SB 52 — TREES Act: Timberlands in Disaster Areas Temporary Ad Valorem Taxation Relief

Senate Bill 52, the Timberlands Recovery, Exemption, and Earnings Stability (TREES) Act, would allow a the governing authority of a county, city, consolidated government, or school board to grant temporary ad valorem tax relief from taxes levied for eligible standing timber if the local governing authority is partially or wholly located in the FEMA declared disaster area as of November 4, 2024. The eligible local governing authority may grant temporary ad valorem tax relief during the final quarter of 2024 and each quarter of 2025.

In order to grant temporary ad valorem tax relief a local governing authority must adopt a resolution granting such relief and file it with the Department of Revenue. The local governing authority must also ensure that all eligible standing timber in its jurisdiction qualifies for such tax relief and refund each taxpayer the total amount of taxes levied for eligible standing timber during the final quarter of 2024. If the taxes were levied but unpaid, the local governing authority must provide an updated tax bill to the taxpayer showing that the amount is no longer due. The local governing authority must also not require taxpayers to pay any taxes levied for eligible standing timber during any quarter of 2025. Tax relief will be paid through the funds of the local governing authority.

The Commissioner of the Department of Revenue, subject to appropriation by the General Assembly, shall provide a grant to each local governing authority that has provided the temporary ad valorem tax relief. Grants will be allotted based on the local governing authority's estimated revenue loss, the revenue received by the local governing authority for the previous three years, and the estimated damage to eligible standing timber in the jurisdiction from Hurricane Helene and published in the Hurricane Helene Timber Damage Assessment by the Georgia Forestry Commission. The grant cannot exceed the average amount of the total revenue received by the local governing authority in 2021, 2022, and 2023.

The bill would become effective upon the Governor's signature.