No CRS summary available for this bill.
This section establishes a new USDA program to provide financial assistance payments to eligible forest product harvesting or hauling businesses (i.e., those with revenue loss from a market disruption, at least $35,000 in prior-year federal taxable income from relevant activities, and at least 75% of gross revenue from such activities) upon declaration of a market disruption petitioned by a state governor or Forest Service chief, with declaration or denial required within 14 days. The program requires a notice of funding availability within 30 days of declaration; applications within 30 days thereafter, with approval, denial, or information requests within another 30 days; and an initial payment of up to $20,000 within 14 days of approval. It further authorizes (1) a second payment on September 30 equal to 30% of the eligible entity's estimated gross revenue loss for the disruption year; and (2) in each of five subsequent years, upon request and if conditions have not improved, a payment equal to 50% of prior payments to that entity (with proration if funds are insufficient). Funds may be used only for operational expenses (e.g., payroll, fuel, equipment repairs, debt service) or expanding market access in the forest products sector. The section directs USDA to develop the application within 60 days without regard to notice-and-comment rulemaking under 5 U.S.C. §553 or the Paperwork Reduction Act; provides for appeals to USDA's National Appeals Division within 30 days of denial, with decisions within another 30 days; penalizes fraudulent applications with ineligibility and fines; requires annual reports to Congress summarizing payments and activities; and appropriates for each fiscal year the total anti-dumping and countervailing duties collected on Canadian softwood lumber imports.