MN HF3999

Establishes an apprentice farmer assistance program in Minnesota allowing established farmers to receive income tax credits for sharing agricultural assets, transferring assets, or providing farming-related investment capital to apprentice farmers.

Defines an apprentice farmer as a Minnesota resident who has entered or is seeking entry into farming within the last ten years and intends to farm land in Minnesota.

Defines an established farmer as a person authorized under Minnesota law to own or operate agricultural land who actively participates in farming and files required federal tax forms indicating farming as primary business activity.

Requires the agriculture commissioner, in consultation with the revenue commissioner, to establish by rule the eligibility criteria, application requirements, reporting standards, and tax credit amounts to encourage established farmers to mentor and assist apprentice farmers.

Allows unused tax credits to carry forward for up to 15 succeeding taxable years and limits tax credits between related farmers to once every five calendar years.