By Blake Jackson
House Bill 242, introduced by Representative Friel, recently gained strong bipartisan support as it advanced out of the Pennsylvania House Finance Committee.
The legislation aims to enhance the state’s existing Beginning Farmer Tax Credit, providing greater opportunities for new farmers to establish themselves in agriculture.
Ryan Brown, a Pennsylvania Farm Bureau member and president of the Cumberland County Farm Bureau, testified before the committee.
Drawing from personal experience, Brown emphasized how this measure could significantly assist beginning farmers in acquiring land, equipment, and other essential resources.
Brown’s testimony underscored the real-world obstacles young farmers face and how HB 242 could help alleviate those challenges.
The proposed updates in HB 242 broaden the credit’s reach. For the first time, both the buyer and seller of agricultural assets would be eligible to benefit from the tax credit.
This dual eligibility encourages more farmland to remain in agriculture rather than being sold for non-farming purposes.
Additionally, the bill allows unused credits to be carried forward over multiple years, offering flexibility and maximizing financial impact for participants.
The legislation now moves to the full House of Representatives for further debate. Supporters, including the Pennsylvania Farm Bureau, urge lawmakers to back HB 242 and invest in the future of Pennsylvania’s farming community.
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Categories: Pennsylvania, Government & Policy