SB1260 establishes a tax credit for farmers using agroecological and climate-smart practices in Hawaii.
SB1260 introduces an agroecological and climate-smart farming practices tax credit in Hawaii. This credit aims to promote sustainable farming practices that enhance soil quality, manage fertility, and implement preventative pest management. Eligible farmers can claim the credit for qualified expenses up to a specified maximum amount. The Board of Agriculture will verify and certify the credit amounts, and any excess credit can be carried over to subsequent years. The tax credit applies to taxable years beginning after the bill's approval.
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