Reports On REAP, Clean And Green Issued By Budget & Finance Committee
The Joint Legislative Budget and Finance Committee this week released evaluation reports on the Resource Enhancement and Protection (REAP) farm conservation tax credit program and the Clean and Green farmland preferential assessment program.
REAP Tax Credits
As part of a general review of tax credit programs, the Committee released an evaluation of the REAP farm conservation tax credit program and found projects funded by the credits have led to a positive environmental impact.
The report documents a reduction of over 1 million pounds of nitrogen, 74,238 pounds of phosphorus and 64,329 tons of sediment as a result of tax credits issued through 2009.
The Committee recommended the one-year waiting period for selling tax credits should be eliminated, the first-come, first-served provisions in the law should be changed to allow for more targeting of the credits and more adequate resources need to be in place to provide on-going monitoring of tax credit-funded projects.
Clean & Green
The report on the Clean and Green preferential assessment program for farm and forestland found the program continues to provide strong financial incentives to property owners to continue agricultural and forest use of their property.
Sen. John Pippy (R-Allegheny) serves as Committee Chair.
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