Pennsylvania HB1992 establishes a tax credit for farmers donating surplus agricultural products to qualified food banks.

Pennsylvania HB1992 creates a tax credit for farmers who donate surplus agricultural products to qualified food banks. Eligible taxpayers must apply for the credit, providing proof of donations and other required documentation. The Department of Community and Economic Development administers the credit, with a maximum allocation of $5,000,000 per taxable year. The credit is limited to the tax liability for the year and cannot be sold or refunded. The Department of Revenue must ensure applicants have filed all necessary state tax reports.

Pennsylvania HB1992 establishes a tax credit for farmers donating surplus agricultural products to qualified food banks.

Pennsylvania HB1992 creates a tax credit for farmers who donate surplus agricultural products to qualified food banks. Eligible taxpayers must apply for the credit, providing proof of donations and other required documentation. The Department of Community and Economic Development administers the credit, with a maximum allocation of $5,000,000 per taxable year. The credit is limited to the tax liability for the year and cannot be sold or refunded. The Department of Revenue must ensure applicants have filed all necessary state tax reports.