Proposed tax credit legislation moving through the Statehouse hopes to establish the next generation of farmers while helping the current generation transition their operations.
When the Senate’s SB 159 and the House’s HB 183 were introduced in 2019, they were identical. As the legislation moved through the House, changes were made to make the bill more palatable for lawmakers and beneficial for farmers looking to transition their operation during their lifetime. Now, the Senate is working to mirror those changes, making its version a “companion bill” to expedite the process.
“Introducing both bills in each chamber and taking them through the process in concert is beneficial,” said Jenna Beadle, Ohio Farm Bureau director of state policy. “It will make passage of the legislation easier when they decide which of the two bills will be moving forward for a vote.”
When that happens is yet to be seen, amid disruptions due to the coronavirus. Several lawmakers, like Senate President Pro Tempore Bob Peterson, who represents the state’s 17th District, know the importance of this legislation.
“Getting started in agriculture is a big challenge, especially if you don’t have family already in the industry,” Peterson recently testified in support of SB 159. “This bill would help connect older farmers with younger farmers in a way that allows both generations to benefit.”
The first income tax credit this legislation creates is for beginning farmers who participate in a financial management program approved by the Ohio Department of Agriculture. SB 159 also establishes an income tax credit for individuals or businesses that sell or rent agricultural assets to beginning farmers.
The House and Senate have voted to pass a bill that avoids a looming government shutdown. The bill, which includes short-term spending, disaster aid and a farm bill extension.
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The disaster relief funding disbursement will be overseen by the Ohio Department of Agriculture and administered through local soil & water districts.
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The winners of the 2024 Ohio Farm Bureau Advocacy in Action Award are Roger Baker of Wayne County and Neall Weber (posthumously) of Franklin County.
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The requirement for businesses that are registered with their state to file information about beneficial owners with the Financial Crimes Enforcement Network has been paused.
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Ohio’s Electric Cooperatives recommend safe energy conservation during extreme cold snaps to help alleviate demand.
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Delegates discussed many important topics including carbon sequestration and mental health at the Ohio Farm Bureau’s 106th Annual Meeting.
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Bill Patterson, Cy Prettyman and Adele Flynn will continue to serve as officers for Ohio Farm Bureau Federation.
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10 Ohio Farm Bureau members were elected to the federation’s state board during the 106th annual meeting.
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The grants help inspire, encourage and nurture young agricultural professionals and entrepreneurs to find creative and transformative ways to address challenges facing the agricultural sector today.
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The 2024 Distinguished Service Award recipients are Dr. John Mossbarger of Fayette County, Sen. Rob Portman of Warren County and Jane Scott of Franklin County.
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