Revenue and taxation; exclude from the calculation of taxable net income certain disaster relief or assistance grant program payments for agricultural losses suffered due to Hurricane Helene
What changed between versions
Primary relief mechanism changed from state income tax credits to local ad valorem tax relief authorization for timber property damaged by Hurricane Helene
New provisions establish state grants to local governing authorities to offset revenue losses from temporary tax relief
Added new definitions for 'disaster area' based on FEMA declarations and 'eligible governing authority' for local tax relief programs
Eligible timber property criteria now tied to specific FEMA disaster declarations and Code Section 48-5-600 timberland definitions
New requirements for establishing certification forms, audit procedures, and grant caps for local relief programs
Original specific dates for tax credit preapproval (December 31, 2025) removed; new timeline references FEMA declaration dates instead
