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
| Category: | Taxation |
|---|---|
| Status: | Defeated |
| Sponsor: | Representative Tiffany Roberts, House 6 |
| Session: | 130 |
| Bill #: | LD 262 |
Position:
Monitoring.
UPDATE: This bill died on the Appropriations Table
UPDATE: The committee amended the bill and passed it. Next stop is House.
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.