Beginning Farmer and Succession Continuity Act established; income tax credit, fund, and loan guarantee program created.

HB 660 creates the Beginning Farmer and Succession Continuity Act to help new farmers in Alabama acquire land by offering financial incentives and support. The bill provides a refundable income tax credit of up to $200,000 to landowners who sell or lease farmland to qualified beginning farmers, provided the land remains in agricultural use for five years. It also establishes a state-backed loan guarantee program covering up to 75% of eligible loans and sets up an online registry to connect retiring farmers with newcomers. Additionally, the act creates a dedicated assistance fund, requires annual reporting on program outcomes, and includes audit provisions to ensure compliance with eligibility rules.