Modifies provisions relating to tax credits
The bill's implementation represents a significant shift in state agricultural policy by prioritizing support for urban agriculture, marking it as a viable means of food production. The tax credit structure is designed to make urban farming financially feasible for a wide range of participants, including families and community organizations. With urban farms allowed to include community-run gardens, this measure could bolster local economies by promoting job creation and providing fresh produce in urban areas. Moreover, enhancing access to agricultural initiatives aligns with public health goals by potentially reducing food deserts in cities.
Senate Bill 30 (SB30) aims to encourage urban farming in Missouri by providing tax incentives to individuals and organizations that invest in urban agricultural projects. Specifically, the bill introduces a tax credit that allows taxpayers to claim fifty percent of their eligible expenses related to establishing or improving urban farms. The maximum credit that can be claimed per urban farm is set at five thousand dollars, with an overall limit of twenty-five thousand dollars for credits authorized towards any single urban farm. This initiative is part of a broader strategy to enhance local food production and promote sustainable agricultural practices within urban settings, crucial for improving food security and community well-being.
Notably, the bill includes restrictions in how urban farms may operate. It expressly excludes personal farms or residential lots that are not intended for community use, aiming to ensure that the urban farms emphasize public benefit. Additionally, any tax credits received could be recaptured by the Missouri Agricultural and Small Business Development Authority if it is determined that the urban farm was used for personal benefit rather than for community-focused food production. This raises questions about the enforcement of compliance and could lead to disputes over the applicability of tax credits, as well as concerns about the potential bureaucratic overhead involved in monitoring these farms.