The Charitable Agricultural Research Act

Farm and Ranch September 20, 2011 Senate Agriculture Committee Chair Debbie Stabenow and South Dakota Senator John Thune have introduced legislation to spur new agricultural research by leveraging private dollars to create charitable partnerships between universities and private entities. Senator Stabenow explains.

Stabenow: “We have a bipartisan group that has come together to create a way for private donations to be able to go into a new entity that would support agricultural research. It would set up a new entity that would be called an agricultural research organization and it would be tax exempt as a non-profit organization and we would see private entities be able to work with the universities and be able to fund critical research.”

Stabenow says in the current budget environment ag research funding has been cut and ag scientists have warned that failing to invest in research could spell disaster down the road. That’s why this proposed new option for financing ag research.

Stabenow: “Agricultural research and our ability to stay the leaders is very important and this new entity that we are creating of a non-profit organization working with the universities will help us do that. ”

Other cosponsors of the Charitable Agricultural Research Act include Ron Wyden of Oregon. Companion legislation has been introduced in the House.

I’m Bob Hoff and that’s the Northwest Farm and Ranch Report on Northwest Aginfo Net.

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