HR 9263
Supporting Innovation in Agriculture Act of 2024
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Bill overview
The Supporting Innovation in Agriculture Act of 2024 creates a 30% tax credit for investments in innovative agricultural technologies. These technologies must be placed in service before December 31, 2035, and focus on the production, storage, processing, and packaging of specialty crops using either precision agriculture or controlled environment agriculture. The bill defines these terms and includes provisions to ensure the credit doesn't overlap with existing grant programs and clarifies how it interacts with depreciation rules.
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Primary sponsor
Cosponsors
Brad R. Wenstrup
Doug LaMalfa
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