Legislature advances bill to clarify act for beginning farmers

LINCOLN — The Nebraska Legislature advanced a bill April 24 that would provide clarification on several terms in the Beginning Farmer Tax Credit Act.

The bill is a combination of legislation proposed by Sens. Suzanne Geist of Lincoln and Matt Williams of Gothenburg.

The bill clarifies how a beginning farmer or livestock producer qualifies for a onetime refundable credit of no more than $500 and defines terms such as “cash rent agreement” and a “flex or variable rent agreement.” It also clarifies how participants may qualify for more than one agreement.

 

 

To read more please log in or subscribe to the digital edition https://etypeservices.com/Northeast%20Nebraska%20News%20CompanyID379/

 

Northeast Nebraska News Company

102 W. Main
Hartington NE 68739
402-254-3997

 

News First