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Farm Groups Back Investment‑Credit Bill and Higher Machinery Tax Exemption to Help Modernize Connecticut Farms
Summary
Farm Bureau and multiple Connecticut farmers urged passage of HB 7,175, a package that would create an investment tax credit for farmers and raise the municipal property tax exemption on farm machinery and equipment from $100,000 to $500,000. Proponents said the changes would help farmers afford modern equipment, encourage multigenerational farm
Farmers and agricultural groups told the Finance, Revenue and Bonding Committee they support HB 7,175, which would create a farm investment tax credit and raise the municipal property tax exemption on farm machinery and equipment from $100,000 to $500,000.
Why it matters: Testimony described rising equipment costs, tight margins, and succession pressures in Connecticut agriculture. Supporters said the measures would encourage modernization, improve profitability and help keep family…
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