California SB881 provides a tax credit for farmers donating food to food banks.

California SB881 allows a tax credit for farmers donating food to food banks. The credit is 15% of the qualified value of donated items. Eligible items include fresh fruits, vegetables, and various processed foods. The credit applies to donations made between 2017 and 2032. The credit can be carried over if it exceeds the tax owed. The Franchise Tax Board must report on the credit's use and the value of donated items. The credit will be repealed on December 1, 2032.

California SB881 provides a tax credit for farmers donating food to food banks.

California SB881 allows a tax credit for farmers donating food to food banks. The credit is 15% of the qualified value of donated items. Eligible items include fresh fruits, vegetables, and various processed foods. The credit applies to donations made between 2017 and 2032. The credit can be carried over if it exceeds the tax owed. The Franchise Tax Board must report on the credit's use and the value of donated items. The credit will be repealed on December 1, 2032.