Timber

2025-2026 Bill 682: Timber - South Carolina Legislature Online

South Carolina General Assembly
126th Session, 2025-2026
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S. 682
STATUS INFORMATION
General Bill
Sponsors: Senators Young, Kimbrell, Corbin, Gambrell, Massey, Rice, Verdin, Campsen, Kennedy, Garrett, Elliott, Stubbs, Ott, Nutt and Alexander
Document Path: LC-0250DG25.docx
Introduced in the Senate on May 28, 2025
Introduced in the House on April 2, 2026
Last Amended on March 25, 2026

Currently residing in the House Committee on
Ways and Means
Summary: Timber
HISTORY OF LEGISLATIVE ACTIONS

Date

Body

Action Description with journal page number

5/28/2025

Senate

Introduced and read first time (
Senate Journal-page 9
)

5/28/2025

Senate

Referred to Committee on
Finance
(
Senate Journal-page 9
)

3/18/2026

Senate

Committee report: Favorable with amendment
Finance
(
Senate Journal-page 7
)

3/25/2026

Senate

Committee Amendment Adopted (
Senate Journal-page 34
)

3/31/2026

Senate

Read second time (
Senate Journal-page 43
)

3/31/2026

Senate

Roll call Ayes-38 Nays-5 (
Senate Journal-page 43
)

4/1/2026

Senate

Read third time and sent to House (
Senate Journal-page 32
)

4/2/2026

House

Introduced and read first time (
House Journal-page 32
)

4/2/2026

House

Referred to Committee on
Ways and Means
(
House Journal-page 32
)

View the latest
legislative information
at the website
VERSIONS OF THIS BILL
05/28/2025
03/18/2026
03/25/2026

Indicates Matter Stricken

Indicates New Matter

Committee Amendment Adopted

March 25, 2026

S. 682

Introduced by Senators Young, Kimbrell, Corbin,
Gambrell, Cromer, Massey, Rice, Verdin, Campsen, Kennedy, Garrett, Elliott,
Stubbs, Ott, Nutt and Alexander

S. Printed 3/25/26--S.

Read the first time May 28, 2025

________

A bill

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION
12-6-3830
SO AS to allow AN INCOME TAX CREDIT for a TIMBER CASUALTY LOSS IN A
FEDERALLY DECLARED DISASTER AREA resulting from hurricane helene; AND BY
AMENDING SECTION
12-6-1140
, RELATING TO DEDUCTIONS FROM INDIVIDUAL TAXABLE
INCOME, SO AS TO allow a deduction for PAYMENTS RECEIVED FROM certain DISASTER
RELIEF agencies resulting from hurricane helene.

Amend Title To Conform

B
e it enacted by the
General Assembly of the State of South Carolina:

S
ECTION 1.
A
rticle 25, Chapter 6, Title 12 of the S.C. Code is
amended by adding:

S
ection
12-6-3830
.
(
A)
(
1) A taxpayer is allowed an income tax
credit in an amount equal to one hundred percent of the taxpayer's timber
casualty loss in a federally declared disaster area from Hurricane Helene which
struck in September 2024. The credit amount shall not exceed the number of the
taxpayer's affected acres of eligible timber property in the disaster areas
multiplied by five hundred fifty dollars. The total calculated amount of the
credit for the timber casualty loss must be reduced by any private insurance
payments or federal assistance received by the property owner for the same
timber casualty loss. Any unused credit may be carried forward for the next
five tax years.

(
2)
Notwithstanding item (1), the maximum aggregate credit for all taxpayers in all
tax years may not exceed twenty-five million dollars. If the total amount of
credits claimed in a tax year exceeds the maximum amount, then the amount of
each credit must be reduced proportionately based on the taxpayer's eligible
timber casualty loss compared to all eligible timber casualty losses.

(
B)
The department, in consultation with the State Forestry Commission, shall
establish an application process whereby a taxpayer may apply for the credit.
The application process must include a requirement for a certification by the
property owner and a registered forester that the timber casualty loss
qualifies. The department may not approve any credit that exceeds the maximum
aggregate amount set forth in subsection (A)(2).

(
C)
The State Forestry Commission shall establish criteria for determining whether
timber property is damaged or destroyed to qualify as a timber casualty loss
under this section. In establishing such criteria, the commission may consider,
but is not limited to, the following:

(
1)
the average damage sustained throughout the timber property;

(
2)
whether the timber property has adequate remaining trees per acre to maintain
viable timber property; and

(
3)
the risk of insect disease damage to the timber property as a result of the
disaster.

(
D)
The State Forestry Commission is authorized to conduct audits of timber
property for compliance with this section at the request of the Department of
Revenue.

S
ECTION 2.
S
ection
12-6-1140
of the S.C. Code is amended by
adding:

(
15) to the extent such income is
included in federal taxable income, payments received resulting from Hurricane
Helene which struck in September 2024, from a federal disaster relief,
assistance grant program administered by this State or political divisions
thereof, or the United States Department of Agriculture, if the payment or
grant was established to specifically address agricultural losses suffered in a
federally declared disaster area.

S
ECTION 3. This act takes effect upon approval
by the Governor. This act is repealed on January 1, 2029, and does not apply to
tax year 2029 or thereafter, except that any credit carried forward pursuant to
Section
12-6-3830
, as added by this act, shall continue to be carried forward
until the applicable five tax years have expired.

----XX----

This web page was last updated on March 25, 2026 at 6:55 PM