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Panel hears small fix to farm eligibility that would let some family LLCs qualify for agricultural credits
Summary
Senate File 1428 would allow limited liability companies that are family-owned (individuals, spouses or up to two family members) to qualify under an existing agriculture-related credit or program. Sponsors described the change as narrowly tailored to reflect modern farm ownership structures. The bill was laid over.
Senate File 1428, a targeted technical change to an agriculture eligibility definition, was heard and laid over by the Minnesota Senate Tax Committee on April 3. The proposal would permit limited liability companies owned by an individual or by up to two family members (spouses or family) to…
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