Income Tax Credit - Food Donations by Qualified Farms - Sunset Repeal and Alterations (Farmers Feeding Families Act)
Impact
The impact of HB 584 on state laws includes a significant increase in the available tax credits. Under the new provisions, farms can receive tax credits equivalent to 100% of the value of eligible food donations, raised from previous rates that were lower. The credits are designed to incentivize qualified farms to donate food rather than letting it go to waste, thereby providing both economic and social benefits. Furthermore, the bill establishes oversight through the Secretary of Agriculture, who will regularly assess and report on the program's effectiveness, ensuring that the initiatives align with broader agricultural goals and community needs.
Summary
House Bill 584, known as the Farmers Feeding Families Act, aims to enhance tax incentives for qualified farms in Maryland that donate food. The bill extends the provisions that allow farmers to receive an income tax credit for donated fresh farm products, repealing certain termination dates previously established in law. This legislation is particularly focused on promoting food donations to non-profit organizations and contributes to efforts in minimizing food waste while supporting food insecurity initiatives across the state.
Sentiment
Overall, the sentiment around HB 584 is largely positive among legislators and advocacy groups involved in agricultural and food security issues. Supporters argue that it not only helps local farmers by reducing the cost burdens associated with food donations but also addresses critical issues of hunger and waste. Notably, discussions during legislative sessions revealed bipartisan support, highlighting the importance of agriculture in sustaining community health and welfare. However, some concerns were raised regarding the implementation and administration of the program, specifically about ensuring adequate outreach to make eligible farms aware of these tax incentives.
Contention
Notable points of contention within HB 584 revolve around its funding and administrative effectiveness. Questions were raised about how the state would manage the tax credits and whether there would be sufficient resources allocated to oversee the program. Critics also pointed out potential challenges in ensuring that food donations reach those most in need, rather than merely benefitting farm businesses financially. As the bill progresses, maintaining a balance between providing tax incentives while ensuring accountability and effective use of agricultural resources remains a key concern among stakeholders.
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.
Reforms the organizational structure for the Department of Transportation and Development including its duties, powers, and responsibilities of officers and employees (EN INCREASE SD EX See Note)