A 3431
"New Jersey Loves New Jersey Farmers Act"; provides corporation business tax credits and gross income tax credits to commercial farm operators for price loss.
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
The "New Jersey Loves New Jersey Farmers Act" provides tax credits to commercial farm operators in New Jersey to offset price losses in their crops. Specifically, it offers corporation business tax credits and gross income tax credits based on the difference between expected revenue (baseline receipts) and actual revenue received. The bill establishes a process for farmers to certify these losses and outlines rules for carrying forward unused credits and transferring them to other parties. It also defines key terms related to the act, such as ‘commercial farm’ and ‘price loss.’
Sponsors
Official sponsors from legislative records.
Primary sponsors
Cosponsor
Cody Miller
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.