Pennsylvania HB242 amends tax credits for beginning farmers, clarifying definitions, approval process, and tax credit usage.

Pennsylvania HB242 amends the Tax Reform Code of 1971 to revise tax credits for beginning farmers. It specifies that the tax credit applies to owners of agricultural assets selling or renting to beginning farmers. The bill defines "department" as the Department of Agriculture and "lease" as a written agreement for farming property. It mandates that tax credits be approved and certified by the department. The bill also outlines the process for applying for tax credit approval, including documentation requirements.

Pennsylvania HB242 amends tax credits for beginning farmers, clarifying definitions, approval process, and tax credit usage.

Pennsylvania HB242 amends the Tax Reform Code of 1971 to revise tax credits for beginning farmers. It specifies that the tax credit applies to owners of agricultural assets selling or renting to beginning farmers. The bill defines "department" as the Department of Agriculture and "lease" as a written agreement for farming property. It mandates that tax credits be approved and certified by the department. The bill also outlines the process for applying for tax credit approval, including documentation requirements.