Assemblyman Santabarbara: New Tax Credit Available to Local Farmers
Farm to Food Bank’ Expected to Increase Donations to Local Area Food Banks, Boost Agriculture
Assemblyman Angelo Santabarbara announced today that local farmers are now eligible to receive a tax credit for qualifying food donations made to food banks and other emergency food programs. The tax credit is expected to save farmers a total of $10 million annually. “Increased donations will help meet the growing demand for fresh, healthful foods in underserved communities across Upstate New York and supports our local farmers,” said Assemblyman Angelo Santabarbara.
Assemblyman Santabarbara, who serves on the State Assembly’s Agriculture Committee, was an advocate for including the ‘Farm to Food Bank’ program in last year’s state budget. The tax credit was enacted to help farmers with the costs associated with harvesting, packaging, and distributing local products to eligible food pantries, food banks and other local area emergency food programs. “When local farms have an abundance of food they’re willing to donate, the costs of bringing these crops to our food banks and pantries should not stand in the way of helping families in need,” said Assemblyman Angelo Santabarbara. “With this new opportunity, good food from local farms in our area will not go to waste.”
The New York Farm Bureau estimates that in 2017, farmers across the state donated more than nine million pounds of food, providing more than seven million meals to New Yorker’s in need. The tax credit is a refundable credit equal to 25 percent of the fair market value of donations up to $5,000. Donations that are eligible include fresh fruits and vegetables produced in New York State and provided to emergency food programs that qualify for tax exempt status. For more information visit the New York State Department of Taxation and Finance’s website at www.tax.ny.gov.