S0478B0942A02407 PWK:JSL 06/22/19 #90 A02407
AMENDMENTS TO SENATE BILL NO. 478
Sponsor: REPRESENTATIVE SAYLOR
Printer's No. 942
Amend Bill, page 1, line 20, by striking out "and" and
inserting
who sell or rent agricultural assets
Amend Bill, page 2, lines 7 through 30; page 3, lines 1
through 29; by striking out all of said lines on said pages and
inserting
"Agricultural production." As defined in section 3 of the
act of June 30, 1981 (P.L.128, No.43), known as the Agricultural
Area Security Law.
"Beginning farmer." A person who:
(1) Has demonstrated experience in the agriculture
industry or related field or has transferable skills as
determined by the department.
(2) Has not received Federal gross income from
agricultural production for more than the 10 most recent
taxable years.
(3) Intends to engage in agricultural production within
the borders of this Commonwealth and to provide the majority
of the labor and management involved in that agricultural
production.
(4) Has obtained written certification from the
department confirming beginning farmer status.
(5) Is not, and whose spouse is not, a partner, member,
shareholder or trustee of the owner of agricultural assets
from whom the person seeks to purchase or rent agricultural
assets.
Amend Bill, page 4, lines 2 through 5, by striking out all of
said lines
Amend Bill, page 4, lines 12 and 13, by striking out "the
production of a farm product AN AGRICULTURAL COMMODITY " and
inserting
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agricultural production
Amend Bill, page 5, line 6, by striking out all of said line
and inserting
(b) Application.--
(1) The tax credit may be claimed only after
Amend Bill, page 5, lines 8 and 9, by striking out "1804-" in
line 8 and all of line 9 and inserting
1804-H.
(2) An owner of agricultural assets must apply to the
department
Amend Bill, page 5, line 11, by inserting after "department."
The application shall:
(i) identify the beginning farmer who has been
certified by the department under paragraph (3) and to
whom the agricultural assets are sold or rented; and
(ii) specify whether the beginning farmer is a
brother, sister, ancestor or lineal descendant of the
applicant.
(3) A person may apply to the department for
certification that the person is a beginning farmer for
purposes of this article. The application shall be in a form
and manner prescribed by the department and shall require
that the applicant provide:
(i) Projected earnings statements to demonstrate the
profit potential for the farming conducted by the
applicant.
(ii) Verification that the farming conducted by the
applicant will be a significant source of income for the
applicant.
(iii) Verification that the applicant will, if
certified as a beginning farmer by the department, notify
the department if the farmer no longer meets the
certification and eligibility requirements within the
three-year certification period, in which case
eligibility for tax credits ends.
(iv) Verification that the applicant is not engaged
in farming by means of a joint business venture.
(v) Verification and documentation as necessary to
meet other eligibility requirements as may be established
by the department.
Amend Bill, page 5, lines 27 through 29, by striking out "
or" in line 27, all of line 28 and "whichever is later" in line
29
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Amend Bill, page 6, line 2, by striking out "carried over or
assigned." and inserting
sold, passed through, carried forward or refunded. No
credits granted under this section shall be applied against any
tax withheld by an employer from an employee under Article III.
Amend Bill, page 6, line 27, by striking out "section" and
inserting
article
Amend Bill, page 8, lines 14 through 20, by striking out all
of said lines
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See A02407 in
the context
of SB478