Cooperative Network salutes progress on
Dairy & Livestock Credit Extension
Madison, WI (February 11, 2011) – Bill Oemichen, President & CEO of Cooperative Network, noted the positive actions of the Assembly Committee on Agriculture and Senate Committee on Agriculture, Forestry and Higher Education on legislation that would extend the dairy and livestock farm investment tax credits for five additional years. The Assembly Committee recommended Assembly Bill 5 authored by Rep. Keith Ripp (R-Lodi), Thursday, on a 14-0 vote. The Senate Committee previously recommended Senate Bill 9, authored by Sen. Dan Kapanke (R-La Crosse) on a 7-0 vote. The companion bills will extend the dairy and livestock farm investment credits a taxpayer may claim until January 1, 2017.
In testimony at hearings held by each committee, Cooperative Network’s John Manske told committee members state statistics indicate that more than $200 million in credits have been claimed by more than 10,000 claimants who have undertaken dairy and livestock farm modernization of facilities and equipment. That would reflect more than $2 billion in eligible expenses on farms. Manske also said that in the 2010 Dairy Producer Survey conducted by the USDA’s Agricultural Statistics Service with the cooperation of DATCP, 20% of respondents said investment tax credits were the most important government program. The only program that exceeded that figure was the use-value property tax assessment law.
Oemichen observed that “Cooperative Network was the primary statewide association that successfully advocated for the creation of the dairy farm modernization investment tax credit that was put in place by 2003 Wisconsin Act 135. The initiative was undertaken to help start the reversal of a decline in the dairy industry that was occurring in Wisconsin at that time. Most Wisconsin dairy farms had not adopted technology that was common in states with growing dairy industries and most farms were utilizing outdated and inefficient facilities and equipment. In no small part due to this credit, the declining fortunes of our dairy industry were reversed. The credit has been successful; it only makes sense to extend something that has been working.” |
