House Bill Seeks to Exempt Fencing Supplies Under Farm Equipment Exemption
HB20-1115: Sales Tax Exemption for Farm Fencing Material seeks to exempt farm fencing material from state sales tax under the existing exemption for farm equipment. Proponents of the bill testified on Monday stating the importance of this exemption due to burdensome costs that hinder the completion of large projects across the state, especially in areas where avalanches or wildfires are prevalent and fixing fences is an annual expense.
Fencing is a critical need in many types of agricultural production and protects livestock from the likes of predators, keeps livestock off roads and away from traffic and protects crop production from various kinds of animals. Adding it to the list of agricultural equipment in this measure is a concept that makes sense and will provide a small amount of relief to those farmers and ranchers across the state that have been faced with significant weather events and need to make a substantial investment in fencing.
CFB supports HB20-1115. The bill will be further heard in the Finance committee in the coming weeks. It was laid over on Monday for further amendment discussions. Let Emily, Emily@ColoradoFB.org, know if you have any questions. |
