Beginning Farmer and Succession Continuity Act established; income tax credit, fund, and loan guarantee program created.

Summary

The Beginning Farmer and Succession Continuity Act offers refundable tax credits to landowners who sell or lease land to qualified beginning farmers and provides state‑backed loan guarantees for those farmers. It also creates a dedicated assistance fund, an online registry to match retiring and new farmers, and requires annual reporting on program results. The aim is to keep farmland in agricultural use and support the next generation of farmers.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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