This bill amends sections 11-1C-10 and 11-1C-11 of the Code of West Virginia, changing the certification requirements for managed timberland from an annual basis to every five years for tax assessment purposes. It grants the Division of Forestry the authority to establish regulations for the certification process and mandates that property owners must certify their managed timberland status every five years. The bill emphasizes the importance of maintaining high-quality forest land and ensures that certified managed timberland will be valued appropriately, with restrictions on reclassification to a higher tax class unless there is a change in property use.

Additionally, the bill requires the Division of Forestry to implement an online renewal process by October 1, 2023, to streamline applications for individuals, including a question about any changes in the applicant's information from the previous year. There will be no fees for submitting the online renewal form, although initial application costs remain unchanged. The Tax Commissioner and the Division of Forestry are also tasked with providing annual reports to the Joint Committee on Government and Finance regarding the program's impact on state tax collections and the timber industry, ensuring ongoing assessment and oversight of the managed timberland program's effectiveness.

Statutes affected:
Introduced Version: 11-1C-10, 11-1C-11