Bill
S 1630
Overview: S 1630, a bill that extends the eligibility for the agricultural property tax credit to farmers with a leasehold interest of at least five years in qualified agricultural
Overview: S 1630, a bill that extends the eligibility for the agricultural property tax credit to farmers with a leasehold interest of at least five years in qualified agricultural property, was referred to the Committee on Budget and Revenue on May 06, 2025.
Purpose and Intent: The bill aims to provide tax relief and support to farmers who lease agricultural land, recognizing their contributions to the agricultural sector.
Key Provisions:
- Expands the eligibility for the agricultural property tax credit to include farmers with a leasehold interest of at least five years in qualified agricultural property
- Ensures that eligible farmers can claim the tax credit, regardless of whether they own or lease the agricultural land they operate
Affected Parties and Impacts:
- Farmers who lease agricultural land for at least five years would be eligible to claim the agricultural property tax credit, providing them with financial relief
- The agricultural industry and local communities may benefit from the increased support and incentives for farmers, including those who do not own the land they cultivate
Procedural and Timeline Considerations:
The bill has been referred to the Committee on Budget and Revenue for further consideration and potential legislative action.
Compiled from official sources — confirm details with the bill’s official record.
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