An Act Establishing A Tax Credit For Food Donated By Farmers To Charitable Organizations.
Impact
If enacted, HB 05112 would amend existing state statutes regarding tax credits and food donations. The bill is designed to create a framework for recognizing and rewarding those farmers who choose to make their excess produce available to charitable organizations, which could lead to better food distribution and increased food security for underserved populations. It is anticipated that this could foster a sense of community responsibility among agricultural producers, enhancing food access for residents in need.
Summary
House Bill 05112 proposes the establishment of a tax credit for food donated by farmers to charitable organizations. The intention behind this bill is to incentivize agriculture producers to contribute surplus food to local charities, thereby potentially reducing food waste while supporting community food assistance programs. This tax credit aims to provide financial relief to farmers, allowing them to benefit from their charitable contributions.
Contention
Discussions surrounding the bill may center on the potential fiscal implications of implementing a tax credit, particularly in relation to the state budget and the allocation of resources for agriculture subsidies. Supporters argue that this bill presents a win-win situation—harnessing excess food while boosting charitable donations—whereas detractors could raise concerns about the feasibility of controlling and verifying such donations for tax purposes. Additionally, the efficacy of the incentivization model in actually increasing food donations might also be a topic of debate.