(Washington, DC) – Congresswoman Ileana Ros-Lehtinen (FL-27), made the following statement after the House of Representatives passed the Emergency Citrus Disease Response Act, which she cosponsored. This bill would amend the Internal Revenue Code to allow a full deduction in the current taxable year of the cost of replanting lost or damaged citrus plants. The taxpayer must own an equity interest of at least 50% in such replanted plants and may deduct costs paid or incurred through 2025. Under current law, individuals are allowed to deduct the cost, but the grower must bear the full cost of replanting.
Statement by Ros-Lehtinen:
“As a cosponsor of the Emergency Citrus Disease Response Act, I am pleased that the House passed this important legislation that will provide much needed relief to citrus growers both at home and throughout the country. This industry employs more than 75,000 people in our great State of Florida, contributing directly to Miami-Dade County’s economy. This bill is an essential step in protecting growers and small business owners from the devastating effects of citrus greening disease. Growers need help to replant, cultivate and maintain impacted groves, and repel invasive pests and diseases including citrus greening.”