Monday, July 29, 2013

Just in

Farm Bureau Sends Letter in Support of S. 526
Washington--In a letter last week to Sens.Max Baucus (D-Mont.) and Orrin Hatch (R-Utah.), Farm Bureau endorsed S. 526, the Rural Heritage Conservation Extension Act. The permanent legislation would allow up to 100 percent of qualified farmers’ income to be deducted for land easements and can be carried forward for 16 years. The benefit is not only for rural, agricultural areas but also for suburban and urban areas because it benefits the environment as a whole.
A bill of the same name was introduced Wednesday by Reps. Jim Gerlach (R-Pa.) and Mike Thompson (D-Calif.) in the House. If Congress does not move forward with the legislation, 

the deduction will be limited to 30 percent and the amount of time that the deduction can be carried forward will only be six years.

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