Proposed Missouri tax credits aimed at enlisting new farmers

5 years 5 months 3 weeks ago Monday, January 12 2015 Jan 12, 2015 Monday, January 12, 2015 2:44:15 PM CST January 12, 2015 in News
By: The Associated Press

JEFFERSON CITY (AP) - A state lawmaker says proposed tax incentives could encourage more young farmers in Missouri.

State Sen. Brian Munzlinger of Williamstown announced legislation Monday to give tax credits to landowners who lease land to beginning farmers.

The Republican says the incentives are important to recruit younger workers now the average age of Missouri farmers and ranchers has reached 56.

Landowners who pay farmers to grow crops or care for livestock on their property also would get a tax credit. The credits would each be capped at $50,000 a year.

Missouri could give up to $12 million in incentives each year.

Other provisions in the bill would give tax incentives to landowners who sell to new farmers and would create a beginning farmer center with the University of Missouri's extension program.

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