Ohio Senate Passes Bill Supporting Ohio's Young Farmers

COLUMBUS—State Senator Bill Reineke (R-Tiffin) this week announced the passage of House Bill 95 by the Ohio Senate, which would help younger farmers get started while aiding retiring farmers with passing on their assets on to the next generation. "Farmers beginning their career often find it difficult and expensive to enter the field, while at the same time retiring farmers often face burdensome financial and tax barriers when selling their land and assets," said Reineke. "This will encourage our next generation of farmers and ease the financial burden of retiring farmers." The bill would establish the Beginning Farmer Tax Credit Program which creates two nonrefundable income tax credits; one for beginning farmers to attend a financial management program and the second for owners of agricultural property who sell or rent the property to a beginning farmer. House Bill 95 will now be sent to Governor DeWine for further consideration.