HB499

Establishes a tax credit for food and beverage supply chain costs and expedites permitting for related projects.

The bill creates a food and beverage supply chain resiliency income tax credit for qualified taxpayers, which is 40% of qualified costs up to a maximum of $2 million annually. It also mandates expedited permitting for projects related to building storage and processing facilities, expanding retail operations, and establishing agricultural infrastructure. The Department of Business, Economic Development, and Tourism must review and approve permit requests within 180 days. The Department of Taxation will oversee the tax credit, including certifying costs and amounts claimed.