The bill would create payments for timber harvesting and hauling businesses that lose at least 10% of gross revenue in a 30-day period or calendar quarter because of a major disaster. An insect infestation declared a major disaster would also qualify. The payment would equal 10% of the business’s gross revenue for the affected period. Recipients must certify that they will use the payment only for operating expenses.
A timber harvesting or hauling business that handled unrefined timber products in the previous calendar year could qualify if it meets the revenue-loss requirement. The Agriculture Secretary, acting through the Farm Service Agency, would set the rules. Reports to Congress would list each recipient and payment amount.
The bill would authorize $50 million for each fiscal year from 2025 through 2029. This is authorization for funding, not a statement that the money has been appropriated or spent.
No publicly available information.
No publicly available information.