The Massachusetts Cranberry Bog Renovation Tax Credit program, established under the Acts of 2020, has been operational since June 10, 2022. The program allows cranberry growers to apply for tax credits for renovations conducted in the years 2024, 2025, and 2026, while the application process for 2020 through 2022 has been closed. The annual report details the progress of the program, including the number of applications received, the total requested and approved renovation expenses, and the tax credits awarded. As of now, the program has processed applications for 2020 and 2021, with ongoing processing for 2022 to 2025.

The report highlights collaboration with various partners, including the Commissioner of Revenue and the Cape Cod Cranberry Growers Association, to effectively implement the program. The Legislature has extended the tax credit program through the 2029 calendar year, and the report provides detailed statistics on the applications and tax credits awarded to date. It emphasizes the importance of verifying documentation of Qualified Renovation Expenses to determine the appropriate tax credit amounts, while also noting that the application process remains open for the years 2023 to 2025.