relative to the timber tax.

SB 514 modifies New Hampshire's timber tax by increasing the amount of wood that certain landowners can cut without paying a tax or filing an intent to cut. The bill raises the annual exemption limits for individuals cutting logs for personal construction projects from 10,000 to 15,000 board feet and for fuel wood from 20 to 30 cords. It also expands the exemption for land conversion purposes to include up to 15,000 board feet of logs and 300 tons of whole tree chips, provided the owner has secured all necessary permits for the land's new use. These changes directly affect private landowners and utility providers who harvest timber for their own use, allowing them to keep more of their harvested wood tax-free. The legislation takes effect on July 1, 2024.