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vided for in this section shall no longer apply and the assessors 

 having jurisdiction are hereby empowered and directed to assess 

 the said land at the value and in the manner provided by the tax 

 law for the general assessment of land. If any land exempted under 

 this section continues to be used exclusively for the growth of a 

 planted forest after the expiration of the period of exemption pro- 

 vided hereby, the land shall be assessed at its true value and the 

 timber growth thereon shall be exempt from taxation, except if 

 such timber shall be cut before the land has been duly assessed and 

 taxes regularly paid for five consecutive years after the exemption 

 period has expired, such timber growth shall be subject to a tax 

 of five per centum of the estimated stumpage value at the time of 

 cutting, unless such cuttings are thinnings for stimulating growth 

 and have been made under the supervision of the Conservation Com- 

 mission. Whenever the owner shall propose to make any cutting 

 of such timber growth for a purpose other than for thinning as 

 above provided, he shall give thirty days' notice to the assessors 

 of the tax district on which the land is located, who shall forthwith 

 assess the stumpage value of such proposed cutting, and such owner 

 shall pay to the collector of the town in which such land is situated 

 before cutting such timber five per centum of such assessed valuation. 

 If such owner shall fail to give such notice and pay such taxes he 

 shall be liable to a penalty of three times the amount of such tax, 

 and the supervisor of the town may bring an action to recover 

 the same for the benefit of the town in any court of competent 

 jurisdiction. 



2. This act shall take effect immediately. 



LAW RELATIVE TO TAXATION OF WOOD LOTS. 



(Pursuant to Section 17 of Tax Law as Added by Chapter 363 of 



Laws of 1912.) 



AN ACT to amend the tax law, in relation to the exemption and 

 reduction in assessment of lands which shall be maintained as 

 wood lots and to encourage the growth of trees for such purposes. 



Became a law April 15, 1912, with the. approval of the Governor. 



Passed, three-fifths being present. 

 The People of the State of Neiv York, represented in Senate and 



Assembly, do enact as follows: 



Section i. Article one of chapter sixty-two of the laws of nine- 

 teen hundred and nine, entitled "An act in relation to taxation, con- 



