AN ACT ESTABLISHING A TAX CREDIT FOR DAIRY FARMERS.

Plain English Breakdown

The official source material does not provide specific details on how the tax credit will be distributed or when it will become effective.

Tax Credit for Dairy Farmers

This act creates a tax credit worth up to $20 million total to help dairy farmers during times when the price of milk drops.

What This Bill Does

• Creates a new tax credit program for dairy farmers.
• Limits the total amount of the tax credit to $20 million.

Who It Names or Affects

• Dairy farmers who qualify for the tax credit.

Terms To Know

Tax Credit

Money that a taxpayer can subtract from their taxes owed to reduce what they have to pay.

Cyclical Downturns

Periods when prices or sales go down due to regular changes in the economy.

Limits and Unknowns

• The bill does not specify how much each dairy farmer can receive.
• It is unclear if and when this tax credit will be available.

Official Summary Text

To establish a tax credit in the amount of twenty million dollars in the aggregate for dairy farmers, to offset cyclical downturns in milk prices paid to such farmers.

Current Bill Text

LCO No. 112 1 of 1

General Assembly Proposed Bill No. 74
February Session, 2026 LCO No. 112

Referred to Committee on FINANCE, REVENUE AND
BONDING

Introduced by:
SEN. HARDING, 30th Dist.

AN ACT ESTABLISHING A TAX CREDIT FOR DAIRY FARMERS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

That the general statutes be amended to establish a tax credit in the 1
amount of twenty million dollars in the aggregate for dairy farmers, to 2
offset cyclical downturns in milk prices paid to such farmers. 3
Statement of Purpose:
To establish a tax credit in the amount of twenty million dollars in the
aggregate for dairy farmers, to offset cyclical downturns in milk prices
paid to such farmers.