NBFAA supports federal tax credit legislation
IRVING, Texas-The National Burglar & Fire Alarm Association recently endorsed federal legislation that would provide a tax credit to agricultural facilities that store and manufacture pesticides and fertilizers for implementing security measures.
Sen. Pat Roberts (R-Kan.) and Ben Nelson (D-Neb.) recently introduced the legislation known as The Agricultural Business Security Tax Credit Act of 2005.
Under the proposal, eligible agricultural businesses would receive a tax credit that equals 30 percent of the cost of implementing security measures, up to $100,000 per facility. The tax credit would cover security training, background checks, limiting access to specific agricultural chemicals and protection of perimeters using lights, cameras and sensors.
The bill was introduced to the Senate in November and is now before the Senate Finance Committee.