The Minnesota legislature is in its final weeks of session. Legislation is needed to align the state tax code to address changes passed at the federal level. Minnesota Soybean Growers Association Vice President Jamie Beyer says both chambers have included provisions for full tax conformity. “We’re all breathing a sigh of relief that it will get done,” says Beyer. “Also, a House bill has provisions in it for property tax relief.” Early last week, the Senate passed their omnibus agriculture finance bill. Included in the bill is $5 million in startup funds for a soybean crush and biodiesel facility at Crookston. “This facility will bring $320 million dollars annually to an 11 county area. For farmers, especially soybean growers, it’s going to reduce their basis by 10 to 20 cents and bring a premium for those soybeans.”
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