Tax Credit Protects American Agriculture

The Agricultural Business Security Tax Credit Act (H.R. 1814), will provide tax incentives for agricultural businesses to enhance security where agricultural chemicals and fertilizers are manufactured, transported, and stored.

Farm-use chemical production is unique in its use, distribution and security needs. Pesticides and fertilizers, while important to farmers and agricultural businesses, can also be used as agents for manufacturing illegal drugs such as methamphetamines. Some chemicals can even be used to develop explosive devices, making these sites a potential target for foreign and domestic terrorists.

My bill will allow agribusiness to offset security-related expenses, providing a tax credit equivalent to 30% of the aggregate amount paid on implementing new security measures, up to $100,000 per facility. This tax credit will help to defray the high costs agricultural businesses now face enhancing on-site security. This is an important step in our united efforts to better protect U.S agriculture and the American public from the potential threats and other illegal activity.

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