American Farm Bureau is
asking Congress to quickly pass a bill that would help electric cooperatives
with projects like expanding broadband.
The Revitalizing Under-Developed Rural Areas and Lands Act bill would allow electric co-ops to keep their tax-exempt status after receiving government grants.
Most of them have to get 85%
of their income from members to remain tax-exempt. Since the Tax Cuts and Jobs
Act classifies grants as income, electric cooperatives are struggling to meet
that requirement.
Farm Bureau President Zippy
Duvall says rural electric co-ops play a critical role in making sure rural
America has reliable power and high-speed internet access and encourages
lawmakers to quickly pass the bill.
Continue reading Farm Bureau urging passage of rural electric co-op bill at Brownfield Ag News.
