; and (ii) the appraisal shall— (I) conform to the Uniform Standards of Professional Appraisal Practice (USPAP); (II) be limited to the value of the lost timber; and (III) be completed by a Federal- or State-certified appraiser. (C) Exclusion of timber not held for sale Subparagraph (A) shall not apply to any timber unless such timber is held for the purpose of being cut and sold in connection with a trade or business that is not a passive activity within the meaning of section 469. (D) Inclusion of pre-merchantable timber For purposes of this paragraph, the term uncut timber shall not fail to include pre-merchantable timber. (E) Reforestation requirement Subparagraph (A) shall not apply unless the uncut timber subject to the loss is reforested (with hardwoods, softwoods, or any combination thereof) by planting, seeding, or appropriate site preparation, not later than the close of the 5-year period beginning on the date of such loss. . (b) Effective date The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.