MN SF3924

Creates a state income and corporate franchise tax credit equal to 85% of the value of food donations made by farmers to qualifying food shelves

Limits the credit to 50% of the real property taxes paid by the farmer during the taxable year

Donations must be in-kind charitable contributions of food produced by the farmer and eligible for federal tax deduction under IRC Section 170

Credit is nonrefundable but unused amounts may be carried forward for up to five succeeding taxable years

Effective for taxable years beginning after December 31, 2025