I am writing this letter of support for HB123.

This bill closes a loophole in the Timber tax law, RSA79. Companies from California are buying carbon offsets by controlling our standing timber. This loophole allows these California companies to generate great profits while decimating our timber industry here in NH. They do it without collecting timber taxes, and the local property owners are subsidizing their profits through higher property taxes.

Buying these carbon offsets allows California companies to continue to pollute without recourse. These California companies do not cut timber and do not manage the property for wildlife habitat, which hurts our deer, grouse, turkey and many other species. These companies will mismanage our forests which could lead to wildfires, like those in CA.

Please support HB123 and help reduce local property taxes, support the timber industry and protect our forests and wildlife’s habitat. Thank you for protecting New Hampshire!