Authorizes a tax credit for urban farms located in a food desert
Impact
If enacted, HB1919 would amend existing tax laws to incorporate incentives aimed at urban farming. The total amount of tax credits that can be authorized under this legislation is capped at $200,000 per calendar year, with individual claims limited to a maximum of $5,000 for each urban farm. The legislation also includes provisions that prevent the transfer or sale of the tax credits, helping to ensure that the benefits primarily serve the intended community-based projects.
Summary
House Bill 1919 proposes a tax credit for urban farms located in food deserts, aiming to promote agricultural development and improve food access in urbanized areas. The bill allows taxpayers to claim a tax credit equal to 50% of their eligible expenses for establishing or improving urban farms that focus on food production. This initiative is designed to encourage investment in urban agriculture as a means to address food insecurity and promote healthier food options in areas deemed as food deserts.
Sentiment
Overall, sentiment around HB1919 appears to be supportive among those advocating for improved food access and local agriculture. Supporters believe that the tax credits will stimulate urban farming initiatives and provide much-needed resources to communities struggling with food security. However, concerns may arise regarding the limitations and administration of these credits, especially in tying eligibility to specific expenses, which could affect participation.
Contention
Some potential points of contention could arise from the bill's definition of 'eligible expenses,' which excludes labor costs or expenses linked to the cultivation of medical marijuana or industrial hemp. This narrow focus may limit the participation of certain individuals or organizations who are active in the agricultural sector within urban environments. Furthermore, setting a cap on the total tax credits available may spark debate on whether the allocated funds are adequate to meet the growing demand for urban farming as a sustainable solution to food scarcity.
Modifies provisions of the urban farm tax credit to include certain specialty crop farms located in a food desert and establishes a tax credit for grocery stores in a food desert
Modifies provisions of the urban farm tax credit to include certain specialty crop farms located in a food desert and establishes a tax credit for grocery stores in a food desert
Modifies provisions of the urban farm tax credit to include certain specialty crop farms located in a food desert and establishes a tax credit for grocery stores in a food desert
Modifies provisions of the urban farm tax credit to include certain specialty crop farms located in a food desert and establishes a tax credit for grocery stores in a food desert
Exempts urban and small farmers from sales taxes, real, tangible and personal property taxes and income taxes. It also defines urban and small farmers and urban farmland.
Exempts urban and small farmers from sales taxes, real, tangible and personal property taxes and income taxes. It also defines urban and small farmers and urban farmland.
Exempts certain urban and small farmers from sales taxes, real, tangible and personal property taxes and income taxes. Also defines urban and small farmers and urban farmland.