Rep. Nunes Co-introduces Agricultural Research Tax Relief Bill
Washington, DC,
July 11, 2013
In the House of Representatives today, Republican Devin Nunes (CA-22) and Democrat Ron Kind (WI-03) introduced the Charitable Agricultural Research Act (H.R. 2671), which would provide a tax exemption for agricultural research. Senators John Thune (R-SD) and Debbie Stabenow (D-MI) are introducing a companion bill in the Senate.
Bipartisan legislation would create tax exemption for agricultural research Washington, D.C., Jul 11 - In the House of Representatives today, Republican Devin Nunes (CA-22) and Democrat Ron Kind (WI-03) introduced the Charitable Agricultural Research Act (H.R. 2671), which would provide a tax exemption for agricultural research. Senators John Thune (R-SD) and Debbie Stabenow (D-MI) are introducing a companion bill in the Senate. In order to spur private-sector funding for research and innovation in agriculture, the legislation allows the creation of tax-exempt agricultural research organizations similar to existing medical research organizations. By boosting agricultural research, the bill would provide vital long-term assistance for struggling American farmers. “This bill will provide a crucial way for private charitable donors to support agricultural innovation,” said Rep. Nunes. “It adjusts the tax code to help farmers, who are facing a difficult regulatory environment and many other challenges.” The bill stipulates that agricultural research organizations would work in conjunction with agricultural and land-grant colleges and universities to conduct research in the field of agriculture, complimenting existing public and private research efforts. Additionally, the legislation creates opportunities for under-funded projects, such as those addressing specialty crops or specific diseases, to receive the necessary financing. The following organizations support the bill: Alliance of Western Milk Producers, American Farm Bureau Federation, American Sheep Industry Association, American Soybean Association, Biotechnology Industry Organization, California Apple Commission, California Association of Wheat Growers, California Blueberry Commission, California Cattlemen’s Association, California Citrus Mutual, California Cotton Ginners and Growers Association, California Dairies, Inc., California Farm Bureau Federation, California Grape and Tree Fruit League, California League of Food Processors, California Olive Association, Olive Growers Council of California, California Poultry Federation, California Rice Commission, California Women for Agriculture, California Wool Growers Association, National Association of Wheat Growers, National Chicken Council, National Coalition for Food and Agricultural Research, National Corn Growers Association, National Cotton Council, National Grain and Feed Association, National Milk Producers Federation, National Turkey Federation, United Egg Producers, US Apple Association, USA Rice Federation, Western Growers Association, Western United Dairymen, California State University, Fresno, California Polytechnic State University San Luis Obispo, Michigan State University, Oklahoma State University, Oregon State University, Texas A&M University, and University of California. ### |
Stay Connected
Use the following link to sign up for our newsletter and get the latest news and updates directly to your inbox.