January 19, 2018
By Jeff Helms
Alabama Farmers Federation is supporting legislation this year to clarify existing tax credits for investment in on-farm irrigation.
HB 260, sponsored by Rep. Donnie Chesteen, R-Geneva, specifies the credit applies to the purchase and installation of one qualified irrigation system or reservoir per taxpayer. It also clarifies that an eligible farmer may claim one credit during 2011-2017 and another during 2018-22.
Current law caps the credit for the 2011-17 program at $10,000 and $50,000 for tax years 2018-22.