H.R. 4665: Loggers Economic Assistance and Relief Act

This bill, known as the Loggers Economic Assistance and Relief Act, aims to provide financial support to timber harvesting and timber hauling businesses that suffer significant revenue losses due to major disasters. Here's a breakdown of its key components:

Payment Program for Timber Harvesting and Hauling Businesses

The bill establishes a payment program that will be administered by the Secretary of Agriculture, specifically through the Farm Service Agency. The program is designed to help eligible timber businesses that face financial hardship due to certain disasters.

Definitions

• Eligible Entity: A timber harvesting or hauling business that operated in the previous calendar year.
• Major Disaster: Defined under existing law, including events like insect infestations declared as major disasters.
• Gross Revenue: The total income generated from timber operations, as assessed by the Secretary of Agriculture.
• Secretary: Refers to the Secretary of Agriculture responsible for overseeing this program.

Payments to Businesses

The Secretary will provide payments to eligible entities that have experienced at least a 10% decrease in gross revenue during a specified period due to a major disaster. This comparison is made against the same time frame from the previous year. The payment amount will be equal to 10% of the gross revenue from that period.

Use of Payments

Recipients of the payments must certify that the funds will be used strictly for operating expenses, ensuring that the aid supports the ongoing viability of their businesses.

Reporting Requirements

Within 180 days of the bill's enactment and annually thereafter, the Secretary is required to report to Congress, detailing:

• The names of the businesses that received payments.
• The amounts of money provided to each recipient.

Regulatory Procedures

The Secretary is instructed to develop necessary regulations to implement this program within 30 days after the bill is enacted. This process will occur without the usual notice and comment requirements, to expedite the availability of assistance.

Funding Authorization

The bill authorizes $50 million annually from fiscal years 2026 through 2029 to fund these payments to eligible entities, ensuring a dedicated source of financial support for the timber industry during crises.

Relevant Companies

None found