ST. PAUL – The House Taxes Committee announced Wednesday that it will meet on February 1, 2006, in Eden Valley to hear testimony on a dairy tax incentive plan developed by Representative Dean Urdahl. The meeting will convene at 1 p.m. in the Eden Valley High School.
The dairy tax credit plan would award dairy producers with income tax credits for improvements they make to their dairy operations. The bill would allow up to $75,000 in credits on individual income taxes for producers who build new barns; fences; water and feed facilities; milking operations; and milk storage facilities. The credit could be taken all at once or over a 15-year span.
In December, Governor Pawlenty announced that he would support the credit in his 2006 supplemental budget recommendations. Urdahl said he hopes to take advantage of growing support in the legislature and the governor’s backing to pass the bill into law in the 2006 session.
The Eden Valley High School is located at 298 Brooks St. North in Eden Valley. The public is encouraged to attend.