Gov. Earl Ray Tomblin today signed House Bill 4087, a bill to extend the moratorium on the timber severance tax.
"I am pleased to sign House Bill 4087 which extends an important tax cut affecting the timber industry," Tomblin said. "Because of action taken by the Legislature today, the timber industry will save approximately $1.3 million dollars annually at a time when the industry is still fighting for survival."
"We are grateful for the Governor's support in sponsoring this bill," said Dick Waybright, Executive Director of the West Virginia Forestry Association. "It will have an impact throughout the state, especially on small businesses in our rural counties. This is a great initiative on behalf of the Governor in showing his support and encouragement to an industry that is experiencing economic difficulties at this time."
House Bill 4087 extends the discontinuance of the severance tax on the privilege of severing timber.