Individual income tax: credit; beginning farmer tax credit; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 279.

SB 13 creates a tax credit for Michigan taxpayers who sell or rent agricultural assets (like land, equipment, or livestock) to qualifying "beginning farmers." Owners can claim up to 5% of a sale price (capped at $32,000) or 10-15% of rental income for the first three years (capped at $7,000 or $10,000 annually), subject to a $5 million total annual limit. To qualify, the recipient must be certified as a beginning farmer (a resident new to farming within 10 years, with net worth under $800,000 adjusted for inflation, and not related to the asset owner). The credit requires state certification and annual reporting to track its impact on supporting new farmers.