Farmland Access Legislation Moving in the Senate
Ohio House Bill 95- The Family Farm ReGeneration Act
The end of first year of Ohio’s 134th General Assembly brought the passage of Ohio House Bill 95 (HB 95). The Family Farm ReGeneration Act passed with almost unanimous support (Republican House Member Thomas Brinkman, Jr. was the only dissenting vote). OEFFA has been championing legislation to alleviate the overwhelming challenges beginning farmers face in finding affordable farmland for several years.
Ohio can be proud to rank 6th in the nation in the number of beginning farmers. If we are to enjoy the food security and economic development benefits of agriculture, we must ensure next gen farmers have a secure land base. This bill establishes a tax credit for farmland owners and which grants an income and franchise tax credit to any person who sells or rents agricultural assets to a beginning farmer.
How the legislation promotes land and resource connections
The credit equals:
• 5 percent of the sale price of the assets sold to a beginning farmer, up to $32,000
• 10 percent of the gross rental income in the first three years of a cash rental agreement with a beginning farmer, up to $7,000 per year
• 15 percent of the cash equivalent in the first three years of a share rent agreement with a beginning farmer, up to $10,000 per year
The same type of provisions were included in legislation that piloted this program in Minnesota. During the first year of implementing the law, they received more than 800 applications from landowners and beginning farmers. This holds promise for assisting both landowners and land seekers in the state. Ohio Representatives Susan Manchester (R-84) and Mary Lightbody (D-19) introduced HB 95 to the House Ways and Means Committee on September 28th.
How you can help
The Senate Ways and Means Committee will be hearing proponent testimony starting this week. If you would like to add your voice there are opportunities to call or present written or in-person testimony, call Amalie Lipstreu at (614) 947-1607 or email here. We need this legislation to pass the Senate and be signed into law by Governor DeWine before the end of this legislative session in the late spring of 2022. Help us to ensure a strong future for Ohio farmers today!