Virginia Farmers Get New Tax Break for Food Bank Donations
Virginia farmers who supply fresh fruits and vegetables to hungry families can cash in on a new tax break from the commonwealth.
AUGUSTA COUNTY, Va. (WVIR) - Virginia farmers who supply fresh fruits and vegetables to hungry families can cash in on a new tax break from the commonwealth.
Virginia Governor Terry McAuliffe (D) ceremoniously signed into law the tax credit program during a stop at the Blue Ridge Area Food Bank in Verona Tuesday.
The General Assembly approved the $250,000 program to offer farmers up to 30 percent of the fair market value of crops donated to food banks.
“It's like a pebble in a pond. The ripples are going to have a great impact over public health, farmers' success, making sure food banks are successful,” said Delegate Ben Cline, (R) 24th District.
The Blue Ridge Area Food Bank distributes $5.5 million pounds of produce each year to hungry clients. Some of it comes from farms as far away as Canada.
The food bank hopes this tax credit will allow more farmers in central Virginia and the valley to give back.