The details below are for the 2024-2025 AFREC RFP. The proposal closed December 6, 2024.
Is there a lifetime maximum/limit for tax credits?
Asset Owners - No. An asset owner can apply for the maximum tax credits for either a rental or a sale for each eligible beginning farmer each year. There is no lifetime limit, and they can continue to apply for the program as long as the beginning farmer they work with is eligible.
Beginning Farmers - Yes. Beginning farmers are only eligible for the FBM tuition reimbursement tax credit for three years. However, beginning farmers can continue to apply for the program with their asset owners for all 10 years that they are considered a beginning farmer (they just won't get an FBM tax credit for years 4-10).
