Iowa’s strong agricultural heritage will continue as long as we ensure farming is a viable career for our young people. Two bills currently under consideration in the Legislature could help.
House File 599 would expand a tax credit program in which retiring farmers lease or rent land to beginning farmers. The state now provides $6 million in tax credits to retiring farmers who lease land to those starting out. HF 599 calls for doubling that amount so that beginning farmers will be eligible for tax credits if they make improvements to the farm.
This effort is supported by such organizations as the Iowa Agricultural Development Authority, which gives financial help to farmers buying land, equipment or livestock. HF 599 is now in the Senate Ways & Means Committee for further review.
Another bill, House File 457, directs the Iowa Department of Natural Resources (DNR) to give preference to qualified beginning farmers when current leases for DNR-managed agricultural land expire. Land may be available for crops and for grazing. The DNR must use rental history, market factors and conservation practices—instead of a competitive bid process—to determine the lease amount.
HF 457 was approved unanimously by the Senate on April 10 and will hopefully receive the Governor’s signature in the near future.