Finance Committee Advances Farmer “Legacy” Tax Credit Measure
The Senate Finance Committee today (May 1) approved a measure that will encourage existing farmers and landowners to help beginning farmers get started in the business, according to Committee Chairman Scott Hutchinson. Video Senate Bill 478, a measure sponsored by Senator Elder Vogel (R-47), would provide a personal income tax credit for landowners who lease or sell their land, buildings and equipment to beginning farmers. The bill now goes to the full Senate for consideration. “Pennsylvania has traditionally offered tax credits as an incentive for any number of economic development initiatives and Senate Bill 478 fits right in that portfolio,”…