Cuts
taxes, restores funding to critical programs
Assemblywoman Addie J. Russell
announced today that the final budget for SYF 2014-15 includes measures aimed
at supporting New York’s agricultural industry.
The final budget, which will be voted on Monday, provides critical tax
relief for North Country farmers by continuing the phase-out of the 18-a energy
tax, reforming the estate tax and restoring $3.5 million to agricultural
programs.
“Farming is an indispensable piece
of the North Country economy and reforming tax policy so farmers can grow and
expand is one of my top priorities,” Assemblywoman Russell said. “The tax
relief contained in this budget will lower the cost of doing business and make
it more affordable for farmers to pass their businesses on to the next
generation.”
The budget agreement continues the
phase out of the 18-a energy tax and lowers the rate for our families, farmers
and businesses, providing $200 million a year in tax relief.
“Farmers face enough challenges
already and cannot afford burdensome taxes on the energy they use to make a
living,” Assemblywoman Russell said. “Eliminating this tax will make North Country
farm products more competitive and enable farmers to purchase land, equipment
and livestock, and grow their businesses.”
To reduce the costs and help farmers
prepare for the future, the final budget agreement reforms the estate tax by raising
the amount of assets that can be excluded from this tax from $1 million to $5
million over 5 years. Family farms often have assets such as land and barns totaling
over $1 million that subject them to estate taxes, jeopardizing their future,
Assemblywoman Russell noted.
The budget also restores nearly $9
million to critical programs administered by the Department of Agriculture and
Markets and includes an an increase to the Environmental Protection Fund (EPF)
of $9 million which includes funding for wastewater and sewage treatment
capital projects.
In an effort to protect farming
operations from excessive lawsuits, the budget also includes new protections
for farmers who voluntarily provide information in participation with cattle
health programs. Under the statute, information provided such health programs
will be protected from public disclosure. The new exemptions do not apply to
information collected as part of official investigations or action taken in
response to a public health risk.
Assemblywoman Russell also noted that
the budget contains language legalizing crossbow hunting in the state of New
York. Legislation she sponsored in 2010 temporarily legalized the practice but
expired in December of 2012. This year’s budget permanently legalizes the
crossbow hunting, opening up new opportunities for hunting in the North
Country.
“The budget includes numerous provisions
that are sensitive to the needs of North Country and will help strengthen our
economy,” Assemblywoman Russell said.
-30-