The bill amends sections 11-1C-10 and 11-1C-11 of the Code of West Virginia to change the certification frequency for landowner-managed timberland from annually to every five years. Landowners are required to submit written certification to the Division of Forestry, confirming that their property meets the criteria for managed timberland and adheres to a management plan. The bill also clarifies the rulemaking authority of the State Tax Commissioner and the Division of Forestry regarding the valuation and classification of managed timberland for taxation purposes.

In addition to these changes, the bill emphasizes the preservation of high-quality forest land and provides incentives for private landowners to maintain their properties as forests. It establishes a framework for valuing certified managed timberland and outlines penalties for failing to notify the county assessor of any changes in land use. The legislation mandates annual reports from the Division of Forestry and the Tax Commissioner to the Joint Committee on Government and Finance, assessing the program's impact on tax collection and the timber industry. Furthermore, it introduces an online renewal process for the Managed Timberland Program, set to be implemented by October 1, 2023, allowing for a streamlined renewal application without fees.

Statutes affected:
Introduced Version: 11-1C-10, 11-1C-11
Committee Substitute: 11-1C-10, 11-1C-11
Engrossed Committee Substitute: 11-1C-10, 11-1C-11
Enrolled Committee Substitute: 11-1C-10, 11-1C-11