The Legislature finds that it is an important public policy to promote fresh, healthy and local agricultural products for food banks and to provide an incentive for farmers to donate to food banks in this state by providing a tax credit for their donations.
As used in this article: (1) “Department” means the Department of Agriculture;
(a) There is allowed to farming taxpayers who make donations of edible agricultural products to one or more nonprofit food programs in this state, a credit against taxes imposed by 11-21-1 et seq. and 11-24-1 et seq. of this code in the amount set forth in this section. (b) The amount of the credit is […]
(a) The donor shall determine the value of the donated edible agricultural products as follows: (1) If there was a previous sale of the edible agricultural products to a buyer, the donor should retain a copy of an invoice or other statement identifying the price received by the donor for the edible agricultural products of […]
(a) The Tax Commissioner shall propose rules for legislative approval in accordance with the provisions of article three, chapter twenty-nine-a of this code as may be necessary to carry out the purposes of this article. (b) The Commissioner of Agriculture may propose rules for legislative approval in accordance with the provisions of article three, chapter […]
Beginning on the first day of the second taxable year after the passage of this article and every two years thereafter, the department shall submit to the Governor, the President of the Senate and the Speaker of the House of Delegates a tax credit review and accountability report evaluating the cost effectiveness of the tax […]
The credit allowed by this article shall be allowed upon donations occurring after December 31, 2017.
