Senator Kip Bateman’s legislation providing New Jersey farmers who develop pollination habitats with tax credits has passed the Senate Environment and Energy Committee.
Sen. Kip Bateman’s legislation providing New Jersey farmers who develop pollination habitats with tax credits has passed the Senate Environment Committee. (SenateNJ.com)
“From the gardens we grow to the produce we purchase at a local farmer’s market, many of our fruits, vegetables, and flowers rely on pollinators like bees and butterflies,” Bateman (R-16) said. “Ensuring these pollinators have a place to live is vital to the sustainability of New Jersey’s agricultural economy. Aiding our New Jersey farmers who foster pollinators with business building tax credits will help the Garden State flourish.”
Bateman’s bipartisan bill, S-2552, provides corporation business tax and gross income tax credits to farmers who develop qualified native pollinator habitat on their farmers.
Pollinators, such as bees and butterflies, are crucial to the agricultural industry. Approximately one-third of all crops grown depend on pollinators for reproduction. According to the Pollinator Partnership, pollination contributes $217 billion to the worldwide economy.
Recently, however, the survival of many pollinators has been threatened by the loss of natural food supplies and habitat.
“Promoting practical agricultural policy and rewarding New Jersey farmers is a win-win,” Bateman added. “Pollination is vital to feeding New Jersey and the world.”
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