Supporting Innovation in Agriculture Act of 2025

Hozzl · 2025-03-19T09:53:22Z

Explore the details of House Bill 1705 Supporting Innovation in Agriculture Act of 2025 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

3/19/2025, 9:53 AM

Summary of Bill HR 1705

Bill 119 HR 1705, also known as the "Innovative Agricultural Technology Investment Credit Act," aims to amend the Internal Revenue Code of 1986 to provide a tax credit for investments in innovative agricultural technology. The bill is designed to incentivize farmers and agricultural businesses to invest in new technologies that can improve efficiency, sustainability, and productivity in the agricultural sector.

Under the proposed legislation, taxpayers who invest in qualifying innovative agricultural technologies would be eligible for a tax credit equal to a percentage of the cost of the investment. The bill defines qualifying technologies as those that have the potential to improve crop yields, reduce water usage, increase energy efficiency, or otherwise enhance the sustainability and productivity of agricultural operations.

The tax credit would be available for a limited time period, encouraging prompt investment in innovative technologies. The bill also includes provisions to prevent abuse of the credit, such as requiring taxpayers to provide documentation of their investments and the benefits they have realized. Overall, the Innovative Agricultural Technology Investment Credit Act aims to support the adoption of cutting-edge technologies in the agricultural sector, ultimately benefiting farmers, consumers, and the environment.

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Current Status of Bill HR 1705

Bill HR 1705 is currently in the status of Bill Introduced since February 27, 2025. Bill HR 1705 was introduced during Congress 119 and was introduced to the House on February 27, 2025. Bill HR 1705's most recent activity was Referred to the House Committee on Ways and Means. as of February 27, 2025

Bipartisan Support of Bill HR 1705

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Policy Area and Potential Impact of Bill HR 1705

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Alternate Title(s) of Bill HR 1705

To amend the Internal Revenue Code of 1986 to establish a credit for investments in innovative agricultural technology.To amend the Internal Revenue Code of 1986 to establish a credit for investments in innovative agricultural technology.

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