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Bill

A 2295

Extends eligibility for the agricultural property tax credit to farmers having a leasehold interest of not fewer than five years in qualified agricultural property

2025 Regular Session Introduced by Ken Blankenbush and 10 co-sponsors

Expands the agricultural property tax credit to include farmers with a leasehold of at least five years, widening relief for long-term lessees of qualified land.

REFERRED TO WAYS AND MEANS
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Bill Summary · A 2295

Summary of Bill A 2295

Overview

Bill A 2295 seeks to expand eligibility for the state agricultural property tax credit by allowing farmers who hold a leasehold interest of at least five years in qualified agricultural property to qualify for the credit. The bill was introduced on January 16, 2025 and is currently REFERRED TO WAYS AND MEANS.

  • Primary sponsor: Stephen Hawley
  • Cosponsors: John Lemondes, Brian Manktelow, Chris Tague, David DiPietro, Jeff Gallahan, Joe DeStefano, Jodi Giglio, Andrew Molitor, Keith Brown, Kenneth Blankenbush
  • Related companion: S 1630

What the bill would do

  • Extend eligibility for the agricultural property tax credit to include farmers who have a leasehold interest in qualified agricultural property, provided the lease term is not fewer than five years.
  • Maintain the underlying framework of the existing agricultural property tax credit, but modify who may qualify based on leasehold arrangements.

Key provisions and changes (highlights)

  • Eligibility expansion: Adds leaseholders with a minimum five-year lease to the pool of eligible recipients for the agricultural property tax credit.
  • Leasehold definition (implied): The bill would require a leasehold interest to be recognized as establishing qualification for the credit, subject to the program’s criteria for “qualified agricultural property.”
  • Qualification criteria preserved: The property must still meet the program’s standards for “qualified agricultural property” as defined by current law (beyond the leasehold modification).
  • Administrative process: Likely requires administrative alignment to verify lease terms and eligibility, consistent with other credit determinations (exact details not provided in the summary).

Who would be affected

  • Primary beneficiaries: Farmers who lease land for agricultural use with a lease term of at least five years, enabling them to claim the agricultural property tax credit.
  • Landowners and lessors: Entities or individuals who own qualified agricultural property and lease it to operators; they may experience changes in how the credit is claimed or allocated.
  • Agricultural property owners and lessees subject to property tax credit qualifications under state law.

Procedural and timeline aspects

  • Status: Referred to Ways and Means (House committee with fiscal oversight).
  • Introduction date: January 16, 2025.
  • Legislative actions listed: Two identical referrals on the same date to Ways and Means.
  • Next steps: Committee consideration, potential amendments, and movement toward floor votes in both chambers; potential companion action in the Senate (S 1630).

Related legislation

  • Related/companion bills: S 1630 (companion to A 2295).
  • Prior-session related bills include A 3358, A 327, A 1399, A 988, A 5362, A 1558, A 1702, A 5722, A 2040, indicating ongoing legislative interest in expanding eligibility for the agricultural property tax credit.

Potential impact and considerations

  • Fiscal impact: Expanding eligibility to leaseholders could increase the number of claimants and the overall credit expenditure; Ways and Means will assess the fiscal implications.
  • Policy alignment: The bill broadens access to the credit for long-term leaseholders, promoting stability for farming operations that rely on leased land.
  • Implementation: Requires clear definitions of “leasehold interest” and verification of lease terms to prevent eligibility disputes.

For readers following the bill’s progress, monitor updates from the Ways and Means committee and any floor votes or amendments in both the Assembly and Senate, as well as any related fiscal analyses.

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

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