Montana could purchase vast forested swaths of Plum Creek Timber Co. land under a little-known provision tucked into the nation's farm bill.
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| May 16, 2008 |  View for printing |
Montana could purchase vast forested swaths of Plum Creek Timber Co. land, valued at hundreds of millions of dollars, under a little-known provision tucked into the nation's farm bill.
That $307 billion piece of legislation passed through the Senate on Thursday, after clearing the House a day before.
Congressional critics called the provision “green pork,” and complained the program's narrow criteria were met only in Montana, where Plum Creek owns 1.2 million acres.
The provision, pushed by Sen. Max Baucus, D-Mont., would allow states or nonprofit groups to issue $500 million in federal tax-credit bonds. Money raised would buy up critical forestland now being eyed for real estate development.
“Max doesn't want to see these prime hunting and fishing lands turned into golf courses, condos and strip malls,” said Baucus spokesman Barrett Kaiser. “Private timberland is being gobbled up for development, and this provision gives states the tools they need for land conservation.”
By MICHAEL JAMISON of the Missoulian
Full Story: http://missoulian.com/articles/2008/ ... /news05.txt 
Reader Comments:
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This is a Great Idea. Saving more Forest Land in Montana from Development is Great for Montana. Great Job. And Tax Credit Bonds is a Very Creative way to Finance this. KalispellMontanaNews.com |
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