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Increased Tax Credits for Local Investment and Farming

New rules increase tax credits for businesses investing in specific areas, including farms. This aims to encourage support for local food production, donating surplus food, and creating jobs in communities with limited access to large grocery stores.
Key points
The amount of the tax credit for investments in designated areas is increased.
Farming businesses can now qualify for the credit if they sell locally, donate surplus food, and hire residents.
Support is directed towards low-income areas with limited access to large grocery stores.
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Additional Information
Local Food Production Enhancement Act of 2021
Print number: HR 5176
Sponsor: Rep. Thompson, Mike [D-CA-5]
Process start date: 2021-09-03