States with Carbon Resources
PENNSYLVANIA
Program | Resource Enhancement and Protection (REAP) Program |
Description of Program | Farmers, landowners, and businesses earn tax credits for implementing Best Management Practices (BMPs). Farmers can work with a sponsor that will help to finance the BMP project. |
Agricultural System Focus | Crop & Livestock |
Implementation Process | The sponsor reimburses the farmer/landowner for the project installation costs and the sponsor receives the tax credits. The state must receive a signed agreement between the business and the landowner that certifies that the land operator will comply with REAP requirements. This allows landowners to work with businesses that will help finance the practice in exchange for the tax credit receivable through the program. These businesses are often banks or local lending institutions and often banks with long-standing relationships with farmers are willing to write off loans for conservation practices in exchange for the tax credits. |
Agency Managing the Program | State and Financer |
Verification Process | Unclear |
Is it providing an incentive? | Yes |
Incentive Type | Financial assistance for practice implementation |
Link for more information | https://www.agriculture.pa.gov/Plants_Land_Water/StateConservationCommission/REAP/Documents/2020-21%20REAP%20Guidelines.pdf |