Tax Credit for VA Farmers Donating Fresh Produce to VA Food Banks

1apples

In mid-June, Virginia Governor, Terry McAuliffe, signed a tax credit program into law.  This program would provide a tax credit to Virginia farmers who donate fresh fruits and veggies to nonprofit food banks.

The bill was introduced in January 2016 to the House as HB 1063 and to the Senate as SB 580.  The tax credit would be equivalent to 30% of the fair market value of the crops donated without exceeding $5,000 each year.

So, in other words, Virginia farmers who choose to donate fresh fruits and vegetables (free of charge) to nonprofit food banks in Virginia will now earn about 30%  of their value (instead of 0%).   This provides a great incentive for the donation of these healthy foods that are sorely needed in food donation centers and banks.

The Department of Taxation is setting aside $250,000 for this tax credit each fiscal year.  Whatever funds are not used by the end of the year will be carried to the next.  This program is scheduled to last for five years (until January 1st, 2022).

The Federation of Virginia Food Banks is a non-profit state association of food banks and is the largest hunger-relief network in Virginia with 7 food banks in its network.  Click on each below to learn more and get involved in your community.

Blue Ridge Area Food Bank                                                 https://www.brafb.org/

Capital Area Food Bank                                                        https://www.capitalareafoodbank.org/

Fredericksburg Area Food Bank                                         http://www.fredfood.org/

Feeding America Southwest Virginia                                https://www.faswva.org/

FeedMore, Inc. (a.k.a. Central Virginia Food Bank)      https://feedmore.org/

Foodbank of Southeaster Virginia                                     http://www.foodbankonline.org/

Virginia Peninsula Foodbank                                             http://www.hrfoodbank.org/

Author: Devon L. Golem, PDevon L Golem PhD RDhD, RD is the new VAND Professional Education Chair.  She is originally a Californian, but has lived in many states.  She has been an RD since 2003 and has worked in a variety of settings with many different patients.  She earned her PhD in both Nutritional and Exercise Sciences from Rutgers University.  She has since worked in academia as a department chair and a dietetics program director.  She is now the founder of the Institute of Continuing Education for Nutrition Professionals which aims to enhance the expertise of nutrition professionals through engaging education.