HR1754-119

1. Short title This Act may be cited as the Future Agriculture Retention and Management Act of 2025 or the FARM Act of 2025.

2. Restriction on tax credits for renewable energy production on agricultural land Section 48 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: Subsection (a) shall not apply to equipment described in subsection (a)(3)(A)(i) that is placed in service by a public utility on agricultural land. For purposes of this subsection— The term agricultural land has the meaning given the term eligible land in section 1240A of the Food Security Act of 1985. The term public utility has the meaning given the term in section 136(c)(2). Section 48(a)(1) of such Code is amended by inserting subsection (f) and after provided in. Section 45(e)(6) of such Code is amended to read as follows: The credit determined under subsection (a) shall not apply to electricity produced by a solar energy facility or wind facility placed in service after the date of enactment of the Future Agriculture Retention and Management Act of 2025 by a public utility on agricultural land. For the purposes of this paragraph— The term agricultural land has the meaning given the term eligible land in section 1240A of the Food Security Act of 1985. The term public utility has the meaning given the term in section 136(c)(2). The amendments made by this section shall apply to property placed in service after the date of enactment of this Act. (f)Denial of credit with respect to certain solar energy property on agricultural land(1)In generalSubsection (a) shall not apply to equipment described in subsection (a)(3)(A)(i) that is placed in service by a public utility on agricultural land.(2)DefinitionsFor purposes of this subsection—(A)Agricultural landThe term agricultural land has the meaning given the term eligible land in section 1240A of the Food Security Act of 1985.(B)Public utilityThe term public utility has the meaning given the term in section 136(c)(2). . (6)Denial of credit with respect to certain energy property on agricultural land(A)In generalThe credit determined under subsection (a) shall not apply to electricity produced by a solar energy facility or wind facility placed in service after the date of enactment of the Future Agriculture Retention and Management Act of 2025 by a public utility on agricultural land.(B)DefinitionsFor the purposes of this paragraph—(i)Agricultural landThe term agricultural land has the meaning given the term eligible land in section 1240A of the Food Security Act of 1985.(ii)Public utilityThe term public utility has the meaning given the term in section 136(c)(2). .