Trenton – To expand access to healthy foods and reduce the state’s food insecurity rate, the Senate Economic Growth Committee today unanimously introduced legislation backed by Senate Majority Leader M. Teresa Ruiz. bottom. This raises the minimum SNAP benefit to $95 per month to create incentives. For farmers to donate fresh produce.
Senator Lewis (D-Essex) said: “We commend Chairman Coughlin for his work in this area and join him in our efforts to protect and strengthen New Jersey’s food security program.”
The first bill, S-3491, would increase the minimum monthly benefit from $50 to $95 and authorize the Director of Social Services to increase program benefits depending on available state budgets.
The second bill, S-1619, provides tax credits against corporate business tax and gross income tax on the value of fruits and vegetables donated to charity by commercial farmers.
A tax credit equal to 10% of the wholesale fruit or vegetable price is available for donations from 2024 to 2029. The bill also allows for his five-year tax credit carryover under certain circumstances. The tax credit, like any other tax credit, is limited to 50% of the farmer’s tax burden.
“By giving farmers more opportunities to donate directly to charities across the state, we are enabling Food Panty to provide more dietary options to residents in need. Through these tax credits for produce donations, here at Garden We can make healthy food choices accessible to everyone in our state,” added Senator Lewis.
The Director of Taxation at the Department of Treasury is required to prepare an annual report containing information on credit utilization and agricultural donations.