FOREST TAXATION IN THE UNITED STATES 367 
yield-tax ideas from the bills which Pennsylvania had been considering 
for several years, was first to enact them into law. 
New York in 1912 enacted a trio of forest-tax laws, two embodying 
the yield-tax principle and the third a typical exemption law of the 
old regime. The two yield-tax laws were complementary, one dealing 
with forests on denuded and waste lands up to 100 acres in extent 
and the other dealing with those on wood lots up to 50 acres. Each 
of these amended the tax law by adding new sections, 16 and 17, 
respectively, thereto. The first was the act of April 10, 1912, and 
the second the act of April 15, 1912 (S. L. v.1, ch. 249, p. 469; ch. 363, 
p. 710). In neither case could lands within certain specified zones 
surrounding cities or towns of designated size be c assified. In each 
case lands bearing a natural forest growth as well as forest plantations 
were eligible. Under both sections the owners were required to enter 
into written agreements with the State to submit to State forestry 
supervision and direction, the requirements under the wood-lot 
section being the more rigorous. 
Under section 16, where land was denuded and waste, at least 800 
trees to the acre were to be planted, whereas if there were a partial 
stand of trees or brush, underplanting at the rate of at least 300 trees 
to the acre was required. For a period of 35 years after planting or 
underplanting, all forest value, as well as all land value of the planted 
land and half the land value of the underplanted land, was to be ex- 
empted from taxation. Thereafter no further tax concession was to 
be granted to the land values of either class or to the forest values on 
the underplanted lands. However, if the trees on the planted lands 
were kept growing for an additional 5 years, thinnings for the purpose 
_ of increasing the rate of growth being permitted, the exemption of the 
timber value was to be extended for that additional period. But in 
the event that cutting for purposes other than increasing the growth 
were made within the 5-year extension period, a yield tax of 5 percent 
of the stumpage value of the timber cut was to be collected. After 40 
years the planted timber as well as the land was to become fully tax- 
able under the general tax laws. 
Under section 17, the wood-lot yield-tax section, the land value was 
to continue to be assessed and taxed according to the existing pro- 
visions of law, except that the valuation was in no case to exceed $10 
an acre, while the forest value was to be exempt therefrom for so long 
as the owner continued suitably to manage his forest. Then, in lieu 
of the annual tax from which such forest was granted exemption, the 
timber when cut was to bear a yield tax of 5 percent on its stumpage 
value. 
The third of the trio of acts, the straight exemption law, was the act 
of April 16, 1912 (S. L. v. 2, ch. 444, art. 4, sec. 89, p. 907), which 
amended the conservation law (ch. 65 of the Consolidated Laws) by 
adding a practically new article on forests (art. 4). This provision 
was concerned only with tracts of 5 or more acres of waste, denuded, 
or wild forest lands unsuited for agriculture, having a value of not 
more than $5 an acre. Owners of such land might enter into an 
agreement with the State to reforest or underplant the existing forest 
or brush on such land in the amount and manner to be prescribed as 
well as to care for and maintain the forest for a period of 35 years. 
The agreement so entered into was to be recorded in the office of the 
county clerk and its provisions were deemed to be covenants running 
