HARRISBURG, Nov. 29, 2007 – State Sen. J. Barry Stout is advising all local farmers that the new Resource Enhancement and Protection (REAP) Tax Credit Program will open on Jan. 2, 2008.
“These tax credits are available to farmers that use best management practices to help conserve our soil and keep our water clean,” said Stout (D-Beaver/Washington/Greene/Allegheny/ Westmoreland). “Most farmers in Pennsylvania operate small, family-owned farms, and their businesses operate with tight profit margins. Many of them want to do the right thing and utilize nutrient management and conservation planning, but it can be expensive. This tax credit program helps our farmers to do the right thing and remain profitable.”
These tax credits are capped at $10 million annually, and they are available on a first-come, first-served basis. For more information on the program, farmers and small business owners can view the program guidelines and application beginning Dec. 3, 2007, at www.agriculture.state.pa.us. The State Conservation Commission and state Department of Agriculture also plan to launch a toll-free hotline to provide information about REAP.
In July 2007, the Senate voted unanimously to approve legislation establishing the REAP Tax Credit Program (Senate Bill 690). This new program was eventually incorporated into the negotiated 2007-08 budget package.
#### |
