AGRICULTURAL HIGHLIGHTS OF THE 2014 LEGISLATIVE SESSION

Agricultural Highlights of the 2014 Legislative Session:

• Estate Tax reform - Expansion of the Estate Tax exemption to ease the transfer of farms and small businesses to next generations (estimated $14 million)

• Young Farmers NY innovation grants – Up to $50,000 per new farm to purchase land, equipment and supplies: $615,000; the starting date to apply is October 1st, and interested applicants may contact their regional Empire State Development Office.

Central New York Region
620 Erie Boulevard West
Syracuse, NY 13204
(315) 425-9110 

• Agriculture higher education loan forgiveness – Up to $10,000 per year for a college graduate, who completes a degree in agriculture and pursues a career in farming; For more information, call 1-888-NYSHESC (1-888-697-4372) between 8:00 am and 4:45 pm, Monday through Friday. A person can apply starting October 1st and must have graduated within the last two years.

• Increased school-based funding for agriculture leadership-based FFA programs, which encourage careers in agriculture. There are 77 FFA chapters in the state, including New York City. 

• The 2014-15 State budget also includes major tax reductions in energy and a new homeowner tax rebate that will help boost bottom lines