S. 2399: Loggers Economic Assistance and Relief Act

The Loggers Economic Assistance and Relief Act is a proposed legislation that aims to create a payment program designed to support timber harvesting and timber hauling businesses that experience revenue losses due to major disasters. Here is a breakdown of the main components of the bill:

Payment Program for Timber Businesses

The bill defines specific terms to outline who is eligible for assistance:

• Eligible Entity: This refers to any timber harvesting or timber hauling business that operated during the previous calendar year.
• Major Disaster: This term is defined similarly to its definition in the Robert T. Stafford Disaster Relief and Emergency Assistance Act, which can include situations like significant natural disasters or insect infestations officially declared as disasters.
• Gross Revenue: This represents the total revenue generated from timber-related services, which will be evaluated by the Secretary of Agriculture.
• Secretary: The Secretary of Agriculture is responsible for administering the provisions of this act, usually through the Farm Service Agency.

Payments to Eligible Entities

The bill outlines how payments will be distributed:

• Payments will be made to eligible entities that have suffered at least a 10% loss in gross revenue within a 30-day period or a quarter of the calendar year compared to the same period in the previous year due to a major disaster.
• The amount of the payment will equal 10% of the gross revenue during the affected period.

Permitted Use of Payments

To qualify for the payments, eligible entities must assure that any received funds will solely be used for operating expenses.

Reporting Requirements

The Secretary of Agriculture is mandated to provide a report within 180 days of the bill's enactment, and annually thereafter, detailing:

• The names of entities receiving payments.
• The specific amounts given to those entities.

Regulatory Provisions

The Secretary will be required to establish necessary regulations for the implementation of this act within 30 days of its enactment. The regulations will be set without the usual notice and comment requirements under U.S. law.

Funding Authorization

The bill authorizes $50 million in funding for each fiscal year from 2025 through 2029 to support the payment program.

Relevant Companies

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