Stern’s Tax Credit Program for Farmers an Economic and Environmental Success
Applications now being accepted for the
2012-13 Resource Enhancement and Protection Tax Credit Program
– State Rep. Jerry Stern (R-Blair) is encouraging area farmers to apply for the Resource Enhancement and Protection Tax Credit Program (REAP), which provides tax credits to farmers and agricultural businesses that implement best management practices to reduce their environmental impact.
“As the son of a farmer, I am proud to have been the one to establish this program as a way to help today’s farmers improve their farm operations while preserving the environment they rely on for their livelihood,” said Stern. “REAP was the first of its kind in the nation and the results of this program have exceeded my expectation. I encourage all farmers to learn more about REAP and how it could possibly help them afford better farming practices.”
Specifically, REAP is designed to help farmers afford best management practices to manage nutrients appropriately and reduce nutrient and sediment loss in the land. Examples of such practices include improvements to barnyards, pastures and riparian corridors; development and implementation of nutrient management plans; and remediation of legacy sediments.
REAP provides state tax credits worth up to $150,000 per farm to help producers pay for eligible best management practices (BMP) intended to mitigate the potential environmental impact of their farming operations.
Applicants may receive a tax credit of 25 percent to 75 percent of the project cost, depending on the BMP selected.
The program, which was established in 2007, has then since approved a total of 2,609 projects worth more than $39.5 million. Through those projects, REAP has helped reduce more than 11 million pounds of nitrogen, 859,485 pounds of phosphorus and 877,059 pounds of sediment through 2010.
For more information on REAP, visit Stern’s website at www.JerryStern.com
Media Contact: Tricia Lehman