South Carolina S 682: Timber

Bill Text

2025-2026 Bill 682 Text of Previous Version (Mar. 25, 2026) - South Carolina Legislature Online 

South Carolina General Assembly
126th Session, 2025-2026

Bill 682

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

Indicates Matter Stricken

Indicates New Matter

Committee Amendment Adopted

March 25, 2026

S. 682

Introduced by Senators Young, Kimbrell, Corbin, 
Gambrell, Cromer, Massey, Rice, Verdin, Campsen, Kennedy, Garrett, Elliott, 
Stubbs, Ott, Nutt and Alexander 

S. Printed 3/25/26--S.

Read the first time May 28, 2025

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A bill

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 
12-6-3830 SO AS to allow AN INCOME TAX CREDIT for a TIMBER CASUALTY LOSS IN A 
FEDERALLY DECLARED DISASTER AREA resulting from hurricane helene; AND BY 
AMENDING SECTION 12-6-1140, RELATING TO DEDUCTIONS FROM INDIVIDUAL TAXABLE 
INCOME, SO AS TO allow a deduction for PAYMENTS RECEIVED FROM certain DISASTER 
RELIEF agencies resulting from hurricane helene.

 Amend Title To Conform

Be it enacted by the 
General Assembly of the State of South Carolina:

SECTION 1. Article 25, Chapter 6, Title 12 of the S.C. Code is 
amended by adding:

 Section 
12-6-3830. (A)(1) A taxpayer is allowed an income tax 
credit in an amount equal to one hundred percent of the taxpayer's timber 
casualty loss in a federally declared disaster area from Hurricane Helene which 
struck in September 2024. The credit amount shall not exceed the number of the 
taxpayer's affected acres of eligible timber property in the disaster areas 
multiplied by five hundred fifty dollars. The total calculated amount of the 
credit for the timber casualty loss must be reduced by any private insurance 
payments or federal assistance received by the property owner for the same 
timber casualty loss. Any unused credit may be carried forward for the next 
five tax years.

 (2) 
Notwithstanding item (1), the maximum aggregate credit for all taxpayers in all 
tax years may not exceed twenty-five million dollars. If the total amount of 
credits claimed in a tax year exceeds the maximum amount, then the amount of 
each credit must be reduced proportionately based on the taxpayer's eligible 
timber casualty loss compared to all eligible timber casualty losses.

 (B) 
The department, in consultation with the State Forestry Commission, shall 
establish an application process whereby a taxpayer may apply for the credit. 
The application process must include a requirement for a certification by the 
property owner and a registered forester that the timber casualty loss 
qualifies. The department may not approve any credit that exceeds the maximum 
aggregate amount set forth in subsection (A)(2). 

 (C) 
The State Forestry Commission shall establish criteria for determining whether 
timber property is damaged or destroyed to qualify as a timber casualty loss 
under this section. In establishing such criteria, the commission may consider, 
but is not limited to, the following:

 (1) 
the average damage sustained throughout the timber property; 

 (2) 
whether the timber property has adequate remaining trees per acre to maintain 
viable timber property; and

 (3) 
the risk of insect disease damage to the timber property as a result of the 
disaster.

 (D) 
The State Forestry Commission is authorized to conduct audits of timber 
property for compliance with this section at the request of the Department of 
Revenue.

SECTION 2. Section 12-6-1140 of the S.C. Code is amended by 
adding:

 (15) to the extent such income is 
included in federal taxable income, payments received resulting from Hurricane 
Helene which struck in September 2024, from a federal disaster relief, 
assistance grant program administered by this State or political divisions 
thereof, or the United States Department of Agriculture, if the payment or 
grant was established to specifically address agricultural losses suffered in a 
federally declared disaster area.

SECTION 3. This act takes effect upon approval 
by the Governor. This act is repealed on January 1, 2029, and does not apply to 
tax year 2029 or thereafter, except that any credit carried forward pursuant to 
Section 12-6-3830, as added by this act, shall continue to be carried forward 
until the applicable five tax years have expired.

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This web page was last updated on March 25, 2026 at 06:55 PM