New York Farm Bureau says the newly approved state budget delivers several key victories for farmers, including tax incentives, climate policy changes, research funding and financial support for producers impacted by tariffs.
The state’s largest agricultural advocacy organization said many of its top priorities were included in the final budget, which maintains or increases funding for a range of agriculture-related programs.
Among the most significant provisions is an extension of the state’s 20% refundable investment tax credit through Jan. 1, 2033. The credit helps eligible farmers offset the cost of investments in farm buildings, machinery and equipment, providing long-term certainty for operations planning major capital improvements.
Farm Bureau leaders also pointed to changes in New York’s climate law as a major win. The budget extends the timeline for certain greenhouse gas reduction requirements to 2030 and shifts how methane emissions are measured, moving from a 20-year warming potential standard to a 100-year standard that aligns with federal and international practices. Agricultural groups have long argued that the previous accounting method overstated agriculture’s climate impact, particularly from livestock operations.
The budget also doubles the value of a tax credit available to farmers who donate food to food banks and pantries. Beginning with the 2026 tax year, eligible producers can claim a credit equal to 50% of the fair market value of donated products, up from 25%, with the annual cap increasing from $5,000 to $20,000.
Another provision sets aside $30 million for farmers affected by tariffs imposed by the federal government. Farm Bureau officials said the funding will help offset economic losses experienced by agricultural producers facing trade-related challenges.
The organization also praised continued state support for agricultural research, commodity promotion and environmental programs, including funding tied to research conducted through Cornell University’s College of Agriculture and Life Sciences. Farm Bureau leaders said those investments help provide farmers with science-based tools and information to improve productivity, sustainability and animal health.
New York Farm Bureau President David Fisher called the spending plan a strong budget for agriculture and said the organization was particularly pleased with the extension of the investment tax credit, climate law revisions and funding for agricultural research.
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