MN SF1428

Expands the definition of "beginning farmer" to include limited liability companies (LLCs) owned by an individual or by up to two individuals who are spouses or family members, in addition to individual persons

Qualifying beginning farmers must be Minnesota residents seeking entry into farming or having entered farming within the last ten years, with intent to farm land in Minnesota

Beginning farmers must meet eligibility requirements including net worth limits, providing majority of day-to-day farm labor and management, demonstrating adequate farming experience, and showing profit potential

Requires enrollment in or completion of an approved financial management program within ten years of first year of farming, with waivers available for those with agricultural degrees or relevant experience

Amends Minnesota Statutes 2024, section 41B.0391, subdivision 1, governing beginning farmer tax credit eligibility