Agriculture is the Commonwealth’s #1 private industry, yet more than one million Virginians will face food insecurity this year. The Federation and our member food banks have prioritized partnerships with local growers to support the regional ag economy and increase the supply of fresh, nutritious foods.
We are hearing the demand for healthier and more nutritious food items from our partners across the Commonwealth. In response, the Virginia food banks have established the ‘Farms to Food Banks’ initiative, which will allow access to more fresh produce for more food insecure Virginians while supporting the hard work and generous spirit of the Commonwealth’s growers.
In 2016, the Virginia General Assembly passed a ‘food crop donation tax credit,’ to support farmers who are able to donate excess produce to their local food bank. The amount of the credit is equal to 30 percent of the fair market value of such crops. No taxpayer is permitted to claim more than $5,000 in credits for a taxable year.
The Federation works with farmers who want to take advantage of the tax credit to help ensure they are able to recover the overhead costs associated with harvesting the product, such as PPO fees.