"AGRICULTURAL BUSINESS SECURITY TAX CREDIT" BILL

Would provide 50% tax credit

A tax relief bill (S.B. 2872) helping ag retailers, distributors and other eligible agricultural businesses cover the expensive costs related to improving on-site security has been introduced by Senators Jim Bunning (R-KY) and Ben Nelson (D-NE). The bill, which is supported by the Ohio AgriBusiness Association and most other state and national agribusiness associations, provides tax credits equaling 50 percent of the cost of eligible security upgrades at agricultural retail businesses and is capped at $50,000 during any 5 year period. This money can be used for many different security programs, such as employee background checks, locking equipment and even the latest chemical additives that can render fertilizer unfit for illegal purposes.

Senator Bunning said: "This legislation is an important step to ensure that America's agricultural facilities are secure. Without our action, many of the facilities throughout our country would simply be unable to fund security improvements. We cannot risk fertilizers and chemicals falling into the wrong hands and facilitating illegal drug manufacturing or terrorist bomb makers."