Individual income tax: credit; credit for owners of agricultural assets who sell or rent agricultural assets to beginning farmers; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 281. TIE BAR WITH: HB 6437'26
bill electronically reproduced 10/21/2026
Summary
The bill adds a new credit to Michigan’s individual income tax for owners of agricultural assets who transfer those assets—by sale or rental—to beginning farmers. It is intended to encourage the passage of farmland to new producers and support the growth of Michigan agriculture. The measure amends the 1967 Public Act 281 and is currently introduced.
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