LIMBER Timber Act of 2026

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 7245 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 7245 To amend the Internal Revenue Code of 1986 to establish the mass timber plant investment credit, the mass timber workforce development credit, and the mass timber construction credit. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 27, 2026 Ms. Bynum introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to establish the mass timber plant investment credit, the mass timber workforce development credit, and the mass timber construction credit. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Leveraging Investment in Mass Building and Employment with Renewable Timber Act of 2026'' or the ``LIMBER Timber Act of 2026''. SEC. 2. MASS TIMBER PLANT INVESTMENT CREDIT. (a) In General.--Subpart E of part IV of subchapter A of chapter 1 of subtitle A of the Internal Revenue Code of 1986 is amended by inserting after section 48E the following new section: ``SEC. 48F. MASS TIMBER PLANT INVESTMENT CREDIT. ``(a) In General.--For purposes of section 46, the mass timber plant investment credit for any taxable year is an amount equal to 30 percent of the qualified investment with respect to any qualifying mass timber plant if the taxpayer. ``(b) Qualified Investment.-- ``(1) In general.--For purposes of subsection (a), the qualified investment for any taxable year is the basis of eligible property placed in service by the taxpayer during such taxable year which is part of a qualifying mass timber plant. ``(2) Certain qualified progress expenditures rules made applicable.--Rules similar to the rule