Income legislation passes committee


Make text smaller Make text larger




Bipartisan legislation sponsored by Senator Steve Oroho provides gross income tax and corporation business tax credits to individuals leasing agricultural land to beginning farmers has passed the Senate Economic Growth Committee.

“A new generation of farmers will be required to deliver food to the tables of New Jersey’s families,” said Oroho. “Economic activity in the agricultural community depends on new farmers entering into the industry. By encouraging landowners towards leasing to inspiring farmers we can continue to sustain New Jersey’s strong agriculture industry.”

New Jersey’s agriculture industry has become endangered by a lack of new farmers entering the industry. The New Jersey Department of Agriculture reported that the average age of the New Jersey farmer has increased to 59 years old.

Oroho’s legislation provides tax incentives to landowners who lease to beginning farmers.

In addition, legislation will provide family-owned farms, without an inheritance, the opportunity to rent instead of selling land to developers enduring New Jersey’s open land and establishing a new generation of farmers.

“New Jersey’s farms provide over 200,000 jobs from the beginning stages of agriculture to processing and final distribution of food to New Jersey’s nine million residents,” said Oroho. “As a top ten provider of agriculture in the country, it is vital to encourage new farmers to enter the industry and keep New Jersey’s farms in operation.”
Make text smaller Make text larger

Comments

Pool Rules



MUST READ NEWS

Insurance Expert Patrick Hughes: Deductible
A deductible is an amount of money that you agree to pay in the event of a loss to your vehicle. The higher your deductible, the lower your premium.
Read more »
Image

Protest and vigil planned in response to assault rifle celebration
— A local group is planning a virtual protest and vigil in response to a four-day festival in Pike County, Pa., celebrating...
Read more »
Image

‘These kids would never be grown’
By Analiese Maciel
So let’s start with Florida, not the town, the state,
It was known as a place where you could sit back, relax, and concentrate.
But on...

Read more »

Mountain Creek misses payment

EDITOR’S NOTE: This is a developing story and will be updated.
...

Read more »
Image

VIDEOS



* indicates required
Community Newspapers


MOST READ

Local News
Mountain Creek misses payment
  • Feb 23, 2018
Local News
Crossfit Gym plans grand opening
  • Feb 19, 2018

MOST COMMENTED



Find more about Weather in Lafayette, NJ