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SB 723

Relating to: income tax credits for beginning farmers and owners of farm assets and making an appropriation. (FE)

2025-2026 Regular Session Introduced by Kristin Dassler-Alfheim and 6 co-sponsors

SB 723 establishes tax credits for beginning farmers and farm asset owners in Wisconsin to reduce barriers to agricultural entry and succession.

Failed to pass pursuant to Senate Joint Resolution 1
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Bill Summary · SB 723

Legislative bill overview

SB 723 creates new income tax credits for beginning farmers and owners of farm assets in Wisconsin. The bill includes an appropriation to fund these tax incentives, designed to reduce the financial barrier for new entrants into agricultural operations and asset ownership.

Why is this important

Agriculture faces significant barriers to entry due to high capital costs for land, equipment, and operations. Tax credits targeting beginning farmers could increase generational renewal in farming and support rural economic development, which is critical as average farmer age increases nationally.

Potential points of contention

  • Cost and fiscal impact: The bill requires an appropriation but specific credit amounts, eligibility thresholds, and projected costs are not detailed in available information, raising questions about state budget sustainability
  • Definition of "beginning farmer": How age, experience, income, and farm size are defined will determine who benefits and whether credits go to intended populations or broader groups
  • Agricultural land concentration: Credits could inadvertently benefit larger agricultural investors or corporations rather than genuinely new farmers, depending on structure and whether they apply to asset ownership broadly

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

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