Local Food Recycling and Regenerative Opportunities Act

This bill would change the federal tax code to give a tax credit for money spent to divert wasted food. In short, if you spend money to keep food waste from going to the trash, you could get some of that cost back at tax time. The bill adds a new section to the Internal Revenue Code to create this credit for “expenses relating to the diversion of wasted food”.

Key points:

• Who is affected: Taxpayers who pay for activities that divert wasted food (for example, businesses or organizations that incur these costs).
• What changes: A new credit against federal income tax for these expenses, set out in a new section of the tax code.
• When: The excerpt provided does not state the start date or the size of the credit.