FOREST TAXATION IN THE UNITED STATES 357 
effected. Thus the principle, as so enacted and continued in force for 
more than 15 years, was in effect one of straight exemption. As first 
enacted in 1910 a nominal taxable value of $1 an acre was allin the way 
of taxation that was required, as in the case of the Indiana 1899 law 
and the Iowa 1906 law. However the owner of lands which were 
otherwise suitable, i.e., were cut over and not valued at more than 
$5 an acre, had to enter into a contract with the State to reforest his 
lands and care for the growing forests under State supervision for a 
stipulated term of years not to exceed 40. In 1920 the whole law was 
extensively rewritten and reenacted by the act of July 8, 1920 (S. L. 
232, p. 386). The taxation provision then became section 11 in the new 
act and was modified in several particulars. Thus cut-over land 
valued as high as $10 an acre, instead of $5, could be classified, but 
instead of being given a nominal fixed valuation of $1 an acre for taxa- 
tion purposes during the contract period, its value was fixed at its 
actual value at the time of classification but with a minimum value of 
not less than $5 an acre. Also a minimum contract period of 15 years 
was provided, while leaving the maximum at 40 years as formerly. 
Since there was a strong element of doubt as to the constitutionality 
of suspending the operation of the property tax by means of a contract 
in the case of these reforestation tracts, the legislature by the act of 
July 8, 1920 (S. L. 180, p. 290), provided for the calling of a constitu- 
tional convention to convene in 1921 to consider this and other con- 
stitutional matters. The amended constitution agreed on at this 
convention was adopted June 18, 1921, to become effective July 1 of 
that year. Among the amendments was one specifically authorizing 
the fixing by contract of taxable valuations on specific tracts of land 
for the duration of the agreements under terms prescribed by law. 
The act of July 13, 1922 (S. L. 90, p. 161), reenacted the conserva- 
tion law of 1920 and materially changed section 11. It admitted to 
classification cut-over lands valued at from $3 to $8 an acre, instead of 
$5 to $10, for an initial contract period of not over 15 years, subject 
to 1 renewal for 5 years. The taxable valuation of the land at the 
outset was to be fixed at its then actual value only for the first 10 
years of the contract period. A revaluation was then to be made, to 
to give effect to any changes in value that might have taken place, 
including that due to the growth of the young forest. Similarly a 
new assessment was required in the event that the contract was 
renewed at the end of the 15-year period. 
The next legislature again revised the conservation law including 
section 11, by the act of July 10, 1924 (S. L. 71, p. 106). By this 
revision the contract period was restored to a maximum of 40 years 
as in the original 1910 provision and the practice of fixing the valua- 
tion at the outset for the entire contract period was likewise restored. 
By the acts of July 8, 1926 (S. L. 120 and 121, pp. 185-186), two 
additional changes were effected. Act 120, without changing the con- 
tract period, provided that any timber grown on land which had been 
under contract should be free from all other taxation than the yield 
tax for a period of 50 years, without regard to the length of the 
particular period for which the land was under contract. The second, 
act 121, authorized the revision of those contracts made under the 
very much circumscribed provisions of the 1922 law so as to conform 
with the more liberal ones of the 1924 amendnient. 
