AN ACT relating to farmland retention.

Amend KRS 154.60-040 to define terms; create the Farmland Retention Tax Credit Program; establish a tax credit for seller of agricultural land; amend KRS 141.3841, 131.190, 154.60-005, and 154.60-020 to conform; sunset the program on December 31, 2031.

Introduced: February 19, 2025

Last action: February 27, 2025

To Appropriations & Revenue (H)

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This bill would create a new tax credit in Kentucky for people who sell agricultural land, aimed at encouraging farmland to stay in agricultural use. The program would run through the end of 2031, after which it would automatically expire unless renewed. Who it may affect: farmers and landowners looking to sell agricultural property, and potentially buyers of farmland in Kentucky.

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