Representative Marquart has Hearing on Bill to Expand Beginning Farmer Tax Credit to Family Members

Representative Marquart has Hearing on Bill to Expand Beginning Farmer Tax Credit to Family Members

March 29, 2021 News -- KRJB-KRJM-KKCQ 0

St. Paul, MN — Representative Paul Marquart had a hearing on a bill this past week that would increase eligibility for the beginning farmer tax credit. The average age of the farmers in the United States is 55 and currently there are six times more farmers over the age of 65 than there is under 35. To help increase young farmers, the state passed the Beginning Farmer Tax Credit bill in 2017 that would provide a 5% tax credit if a succeeding farmer sold their land to a beginning farmer. However, Representative Paul Marquart says family members were not eligible, but this new bill, HF 1456, would change that.

A similar bill in the House proposed by Representative Samantha Vang of Brooklyn Park would provide grants to help support emerging farmers and specifically emerging farmers of color. While people of color represent nearly 16% of Minnesotans, they represent less than 1% of farmers.