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Needs for Additional Research

Fundamental research is needed to assess landowner use of the incentives for improved forest management and stewardship that are already present in the Federal tax code. There also will be a continuing need to analyze the effects of incentives proposed since the studies summarized here were conducted. To date, these include an inflation adjustment for timber capital gains and a partial capital gain exclusion. An additional class of incentives that might be developed would encourage forest owners to work in concert to develop and pursue management plans on a landscape scale. Such incentives would address the issues of urban sprawl, forest fragmentation, wildlife habitat requirements, and biodiversity.