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Crop Insurance Tax Credit Bill Heading to Evers' Desk
Wisconsin Ag Connection - 02/27/2020

Legislation that would give crop growers a tax credit for losses due to weather damage and other calamities is on its way to the governor's office for consideration.

Co-authored by Rep. Don Vruwink of Milton and Sen. Howard Marklein from Spring Green, the bipartisan measure would allow farmers to cancel out the income tax they pay on money received from insurance claims.

"This bill corrects an omission when Wisconsin enacted the manufacturing and agriculture tax credit in 2012," Vruwink said. "Crop insurance helps farmers mitigate losses due to flooding, drought, hail, wind, wildlife, and other types of damage. When a grower receives a payment for a crop damage claim, it is considered taxable income."

Supporters say the move aims to give farmers peace of mind, knowing that they can buy feed for the current season or seed for the next planting season.

Gov. Tony Evers is expected to sign the bill into law.

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