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By: Peggy Kirk Hall
The Ohio legislature has approved a repeal of the Ohio estate tax, but the tax will remain in effect for another 18 months. The new law removes the Ohio estate tax obligation for any person who dies on or after January 1, 2013. Governor Kasich signed the provision into law on June 30, 2011 as part of the state’s budget package. The final version of the repeal differed from the language proposed earlier this year in H.B. 3, which proposed ending the estate tax as of January 1, 2011 (click here to view earlier post).
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by Chris Bruynis, Extension Educator
The University of Missouri recently released two articles that are of interest to farmers. The first examines the effect on the agriculture economy if direct payments would be eliminated from the next Farm Bill while the second examines the potential impacts of extending the ethanol tax credit.
Eliminating direct payments is expected to increase the participation in ACRE or similar options in the next Farm Bill, have no effect on acres planted by crop, and reduce land values slightly. For more information go to Potential Impacts of Eliminating Direct Payments.
The ethanol tax credit article can be found at FAPRI U.S. Biofuel Baseline and impact of extending the $0.45 ethanol blenders credit. Although this article looks at the benefit and probable outcomes of extending the credit, the reader can infer what the probable outcome may be now that the tax credit has been voted out by the Senate.
The Ohio legislature has approved a repeal of the Ohio estate tax, but the tax will remain in effect for another 18 months. The new law removes the Ohio estate tax obligation for any person who dies on or after January 1, 2013. Governor Kasich signed the provision into law on June 30, 2011 as part of the state’s budget package. The final version of the repeal differed from the language proposed earlier this year in H.B. 3, which proposed ending the estate tax as of January 1, 2011 (see our earlier post).
Department of Agricultural, Environmental and Development Economics
Last month I asked a simple question: does farmers’ constant exposure to risk and risky decisions make them better able to tolerate risk than other people? Or has it gone the other way and made farmers more likely to want to avoid future risks? Using surveys to get a representative sample of the general population and the population of farmers, I asked a simple question to assess a person’s willingness to take risks on a 1 to 11 scale, where higher numbers means more willingness to take risk. Click here to read the entire article.
Bill establishes time limits for township and county infrastructure review
A bill approved by the Ohio General Assembly proposes limiting the amount of time county and township officials have for recommending local infrastructure needs for the operation or expansion of a Concentrated Animal Feeding Facility (CAFF). Both the House and Senate have approved H.B. 22, sponsored by Rep. Buchy (R-77). The bill now awaits action by Governor Kasich.
Recently introduced on May 17, 2011, H.B. 22 proposes a 75 day time limit for county commissioners and township trustees to provide final recommendations for improvements to local infrastructure that are needed to accomodate a CAFF. Notification by the CAFF to the county and township is a required step in the Livestock Environmental Permitting Program (LEPP) permit application process. Information on anticipated traffic routes and number and weights of vehicles must accompany the notification. Under current law, the county and township must next provide initial recomendations to the CAFF for needed infrastructure improvements. The CAFF may accept the recommendations or may propose an alternative, and the county and township must then render written final recommendations for infrastructure improvements. The CAFF must submit the county and township’s final recommendations in its LEPP permit application.
Under the language agreed to by the legislature in H.B. 22, if the county or...
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New law establishes clear standards for liability, adds alpacas, llamas and bison
Livestock owners and keepers in Ohio will soon have less risk of automatic liability when their animals escape enclosures and run loose on public roadways or the property of others. The Ohio legislature has revised the “animals running at large” law to clarify two different standards for criminal and civil liability under the law.
Criminal liability will occur only when proven that a livestock operator behaved “recklessly” in allowing the animals to run loose. Under Ohio law, a person behaves recklessly when he or she perversely disregards a known risk of his or her conduct, with heedless indifference to the consequences of that conduct. For example, a livestock owner who sees but intentionally ignores a downed fence where cattle graze near a roadway could be deemed “reckless.”
The new law establishes a different standard of liability for a civil situation. A person may recover damages against a livestock owner if harm resulted because the livestock owner’s “negligence” caused the animals to escape. Under Ohio law, negligence is a substantial lapse of “due care” that results in a failure to perceive or avoid a risk. For example, a livestock owner who has not checked the line fences in a grazing area for several years could be deemed “negligent.”...
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USDA Announces Projects to Provide Increased Renewable Energy Production, Reduce Reliance on Foreign Oil
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Keith L. Smith, Ph.D., Associate Vice President for Agricultural Administration and Director, Ohio State University Extension TDD No. 800-589-8292 ( Ohio only) or 614-292-1868