House Bill
HB1003:
Income tax credits for beginning farmers
Sponsor
Bill Primary sponsors
Mayberry
Cosponsors
Filed: 1/9/2023 1:49:46 PM
Original Title
To Create Income Tax Credits for Beginning Farmers and Owners of Agricultural Assets
Summary
What it does
Creates a tax credit for beginning farmers or land owners renting to beginning farmers. It's designed for farmers with less than 10 years in farming who farm at least 10 acres or make more than $2,500 from agriculture. The credit will vary and the program will be first-come first-served. It's capped at $10 million a year in credits awarded.
Options: In Committee (first chamber)
Status
In House Revenue and Tax
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