OH SB159

Creates a certification process through the Ohio Director of Agriculture for "beginning farmers" who meet requirements including farming within the past ten years, maintaining net worth below $800,000 (adjusted for inflation), participating in an approved financial management program, and demonstrating adequate farming experience and profit potential.

Establishes a tax credit for owners of agricultural assets who sell or rent land, livestock, facilities, or equipment to certified beginning farmers: 5% of sale price, 10% of gross rental income for the first three years, or 15% of cash equivalent rental income for share rent agreements, with carryforward of unused credits up to 15 years.

Provides a tax credit to beginning farmers who participate in approved financial management programs, equal to the cost of program participation during the taxable year, with unused credits carried forward up to three years.

Directs the Director of Agriculture to certify and maintain a list of approved financial management programs on the department's website.

Makes all provisions effective for taxable years beginning on or after January 1, 2019.