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Bill

SB 71

AN ACT CONCERNING A CONNECTICUT FARMER INVESTMENT TAX CREDIT.

2025 Regular Session Introduced by Pat Boyd and 1 co-sponsor

Connecticut establishes tax credits for private investments in state farms to incentivize agricultural capital funding and strengthen rural farm operations.

CHG. REF., HOUSE TO COMM. ON Finance, Revenue and Bonding
#agriculture #taxcredits
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WeVote Research Nonpartisan
Bill Summary · SB 71

Legislative bill overview

SB 71 establishes a tax credit program for investments in Connecticut farms, allowing investors to claim credits against state income taxes for capital contributions to agricultural operations. The bill aims to incentivize private investment in the state's farming sector by providing financial benefits to those who fund farm businesses.

Why is this important

Agriculture contributes significantly to Connecticut's economy and rural character, but farms face persistent challenges accessing capital for equipment, land, and operations. Tax incentives can unlock private investment that might otherwise flow to other states or sectors, potentially strengthening farm viability and rural economic development.

Potential points of contention

  • Revenue impact and cost: Tax credits reduce state revenue; lawmakers will debate whether the economic benefit justifies the fiscal cost and whether targeted funding could achieve similar results more efficiently
  • Who qualifies: Definition of eligible "farms" and "investments" matters greatly—distinctions between family operations, corporate agriculture, vineyard investments, or organic farms could significantly affect program scope and effectiveness
  • Actual investment behavior: Uncertainty about whether tax credits actually drive new farm investment versus simply rewarding investments that would have occurred anyway, reducing program effectiveness

Compiled from official sources — confirm details with the bill’s official record.

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