Legislation in Montana would tax the income earned in the state by real estate investment trusts like Plum Creek Timber, potentially upending the model that has made such companies successful developers.

The article wraps up a multi-day series in The Missoulian about the changing timber business, especially that of Seattle’s Plum Creek. Articles document how the timber company’s focus has changed over the years from tree harvesting to real estate development. One notes the rising public costs of developing housing subdivisions in rural areas.