Combat Hunger by Creating a Tax Credit of 10 Percent of Wholesale Market Prices up to $5,000 Annually for Businesses Engaged in Food Production for Donations of Food to Tax-exempt Organizations

Last updated: Jan 31, 2021

Details about this bill
Category: Taxation
Status: In Committee
Sponsor: Representative Tiffany Roberts, House 6
Session: 130
Bill #: LD 262

Position:

Monitoring.

Summary:

Representative Roberts of South Berwick would provide an income tax credit for persons engaged in commercial agricultural production, commercial aquacultural production or commercial fishing for donations to a food bank, food kitchen or other tax-exempt organization that provides food to low-income individuals without charging a fee for the food or requiring any other type of compensation from the low-income individuals. The credit is equal to 10% of the wholesale market price of the donated products up to a maximum of $5,000.