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Many Iowa farmers are donating a portion of their produce to food banks

Ag/Outdoor, News

November 26th, 2014 by Ric Hanson

As the harvest is nearly complete across Iowa, many food banks in the state are reaping the benefits of what farmers have grown. With commodity prices so low, Iowa Agriculture Secretary Bill Northey says he’s encouraged so many farmers are choosing to donate some of their bounty to those in need. “They’re able to donate that to qualified food receiving agencies, food banks, and be able to get a tax credit of 15% of the value of that food they produced,” Northey says. “It’s a great way to encourage that connection, certainly to encourage the use of that locally-produced food.” It translates to a double benefit, Northey says, as farmers get a credit on their state taxes while local food banks get home-grown food.

“You do need to find one of these qualified food banks to be able to do that,” he says. “There’s an evaluation worksheet at the state of Iowa tax website.” That address is tax-dot-iowa-dot-gov and then click on the link for “Farm To Food Donation Tax Credit.” Northey notes, farmers get a credit equal to 15 percent of the value of the commodities donated or five-thousand dollars, whichever is less. Producers will get a receipt from the registered food bank or emergency feeding organization. All receipts need to be sent to the Iowa Department of Revenue by January 15th.

(Radio Iowa)