Establishes a payment program for timber harvesting and timber hauling businesses affected by major disasters.
Defines eligible entities as businesses that harvested or hauled unrefined timber products in the previous calendar year.
Major disasters include those recognized under the Robert T. Stafford Disaster Relief and Emergency Assistance Act and insect infestations declared as major disasters.
Gross revenue is defined as the revenue generated from timber harvesting or hauling within the normal operation range, as determined by the Secretary of Agriculture.
Payments are to be made to businesses that experienced a loss of at least 10% in gross revenue during a 30-day period or quarter compared to the same period in the previous year.
The payment amount is equal to 10% of the gross revenue of the eligible entity during the applicable period.
Payments can only be used for operating expenses.
Requires the Secretary of Agriculture to report to the House Committee on Agriculture and the Senate Committee on Agriculture, Nutrition, and Forestry within 180 days of enactment and annually thereafter. The report should include the identity and payment amounts to each recipient.
Regulations necessary to implement this program must be prescribed within 30 days of enactment, without regard to the notice and comment provisions of section 553 of title 5, United States Code, and the Paperwork Reduction Act.
Authorizes $50,000,000 for fiscal years 2024 and 2025 to fund the program.
