Apply For REAP Farm Conservation Tax Credits Starting August 1
Pennsylvania farmers can apply for 2016-17 Resource Enhancement and Protection Farm Conservation Tax Credit Program (REAP) beginning August 1 for completed projects. Applications for proposed or completed projects will be accepted beginning August 15.
The REAP Program considers applications on a first-come, first-served basis for the $10 million that will be available in FY 2016-17. $1.2 million of that amount is already allocated to applications that rolled over from last fiscal year.
The Program considers applications until the funding runs out for the year, usually around the end of January or so.
REAP is a tax credit program for agricultural producers who install best management practices or make equipment purchases that reduce erosion and sedimentation that impacts Pennsylvania’s streams and watersheds.
Farmers may receive tax credits of up to $150,000 per agricultural operation for 50 to 75 percent of the project’s cost.
The program, administered by the State Conservation Commission, gives agriculture producers an incentive to purchase conservation equipment and materials to better protect the environment, according to the Department of Agriculture.
Since the program began in 2007, REAP has awarded more than $50 million in tax credits to 3,900 projects.
For more information, visit the State Conservation Commission’s Resource Enhancement and Protection Farm Conservation Tax Credit Program (REAP) webpage or contact Joel Semke at 717-705-4032 or send email to: email@example.com.
|Go To Preceding Article Go To Next Article|