Supporting Innovation in Agriculture Act of 2024

Supporting Innovation in Agriculture Act of 2024

This bill establishes a new tax credit for investment in any innovative
agricultural technology project. The amount of the credit is 30% of such
investment.

The bill defines innovative agricultural technology project as an agricultural
technology or system placed in service before December 31, 2035, and for which
the primary purpose is to produce, store, process, and package specialty crops
using precision agriculture or controlled environment agriculture.