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.
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