AN ACT ESTABLISHING A FARM INVESTMENT PROPERTY TAX CREDIT.

HB 6547 creates a 20% property tax credit for eligible farmers who make qualifying investments in agricultural property, such as machinery, equipment, and buildings used for farming. The credit directly affects farmers who purchase or upgrade eligible farm assets, reducing their annual property tax bill by 20% of those investment costs. The bill amends Title 12 of the general statutes to establish this credit, applying specifically to property used in agricultural production. This policy change provides a direct financial incentive for farm infrastructure investments without altering income tax rates.