This week, I presented legislation to help Minnesota farmers and their hurdles with taxes and equipment.
SF 3375 would expand the tax exemption for farming equipment, specifically exempting costs associated with fencing on agricultural land. The bill would also provide an exemption for materials and supplies used or consumed in construction and equipment incorporated into the construction or improvement of farm fencing material that do not qualify as farm machinery.
The legislation would be retroactive through last summer and provides many Minnesota livestock producers with needed relief. It will also support them and allow them to reinvest in their operations in response to this past summer’s historic drought. That drought pushed them to invest in fencing for new pastures, erect temporary fencing on state-owned land, or build paddocks to intentionally graze their livestock to make the best use of the land they had.
Long-term, these investments will help grazers reinvest in their operations, graze more intentionally, and remain resilient to future droughts, which is good for our state.
Minnesota already exempts the majority of farming equipment from sales tax, including fencing is just another commonsense way we can help.