PFB discusses tax credits at state conference

Nearly 300 members of the Pennsylvania Farm Bureau (PFB) recently convened in Harrisburg for its PFB’s State Legislative Conference to discuss the state’s tax-credit bill and other priority issues with lawmakers.

PFB announced its support for Senate Bill 478 during a news conference. The bill would provide a tax credit for landowners who sell or lease land to “beginning farmers.”

“Over and over we hear from young farmers who are hindered from establishing their own businesses due to the lack of affordable land to buy or rent,” PFB President Rick Ebert said. “We are hopeful that the legislation will reduce some of those roadblocks and pave the way for a better future for young people who have a passion for growing food to meet the needs of consumers.”

The bill would provide landowners with a one-time tax credit that is 5 percent of the sales price for land up to $32,000 or a 10 percent credit on a gross rental price up to $7,000 annually for up to three years.

PFB is urging the state General Assembly to pass the bill before the end of the year.

Similar legislation was successfully enacted in Minnesota, according to The National Young Farmers Coalition.