The bill amends Minnesota Statutes 2024, section 41B.0391, subdivision 1, to expand the definition of "beginning farmer" to include not only individuals but also limited liability companies owned by an individual or by up to two individuals who are spouses or family members. This change aims to broaden the eligibility for beginning farmer tax credits, making it easier for small family-owned businesses to qualify for assistance. The bill retains existing criteria for what constitutes a beginning farmer, including residency, experience, and financial management requirements, while also allowing for waivers under certain conditions.

Additionally, the bill clarifies definitions related to agricultural assets, farming, and ownership, ensuring that the language aligns with current agricultural practices and legal standards. The modifications aim to support the growth of new farmers in Minnesota by providing them with the necessary tax credits and resources to establish their farming operations successfully.

Statutes affected:
Introduction: 41B.0391
1st Engrossment: 41B.0391