Bill would expand tax breaks for beginning farmers
DES MOINES, Iowa (AP) — Two young farmers who serve in the Iowa Legislature are trying to make it more appealing for retiring farmers to lease their land to beginners.
Rep. Pat Grassley, 29, of New Hartford and Rep. Bobby Kaufmann, 27, of Wilton, have introduced a bill that would expand a tax credit program that gives an incentive for retiring farmers to lease or rent land to beginning farmers.
The state now provides $6 million in tax credits to retiring farmers who lease land to beginning farmers. The bill calls for doubling that amount so beginning farmers also get tax credits.
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