100 Fourth Annual Report oe the 



cutting tax varying from two per cent. (2%) to six per cent 

 (6%) of such value according to the time of cutting and re- 

 moval of such timber ranging from ten to fifty years. 



" The foregoing is the gist of this proposed law. In the case 

 of denuded lands requiring reforestation it provides for a sort of 

 copartnership arrangement with the owner of private lands to 

 conduct lumbering operations thereon. The owner furnishes the 

 land while the State furnishes the trees and plants the same. 

 The owner pays the taxes on the bare land exclusive of the trees 

 at a valuation fixed for fifty years. The State pays all taxes 

 on the value of the trees which increase annually, and at the end 

 of a period of fifty years the actual cost of reforesting with 

 simple interest at four per cent. (4%) per annum plus a cutting 

 tax of ten per cent. (10%) is returned to the State, but in no 

 event is the State entitled to receive more than fifty per centum 

 (50%) of the value of the timber subject always to any prior 

 existing lien or incumbrance. 



" With regard to all other forest lands in the Parks, i. e., pri- 

 vate lands not requiring artificial reforestation on which there 

 exists tree growth of potential value, the owner pays taxes on 

 the value of the land only, and the State the taxes on the value 

 of the trees in lieu of which the State receives a cutting tax oi 

 five per cent. (5%) of the value of the timber removed at the 

 end of fifty (50) years. 



" Eeliable estimates based upon experience show that the aver- 

 age value of the Park lands exclusive of trees does not exceed 

 two dollars ($2) per acre; that the average cost of reforesting 

 the denuded lands is eight dollars ($8) per acre, and the average 

 value of the timber on cut lands where trees of potential value 

 now exist is about six dollars ($6) per acre. 



Til. The Effect of this Proposed Statute with Respect to De- 

 nuded Lands 

 "It is estimated that there exist within the State 430,000 

 acres of denuded private lands suitable for tree growth to which 

 this law is applicable. If reforested pursuant to the provisions 

 of this law the State must expend three million, four hundred 

 and forty thousand dollars ($3,440,000). In this proposed 



