I am here today in support of HB 1052, which will provide a sales and use tax exemption for used farm machinery, farm machinery repair parts, and used irrigation equipment used exclusively for agricultural purposes. As you know, farmers and ranchers in North Dakota have been experiencing very difficult economic times in recent years. The average net return per acre of wheat has been negative for three years in a row.
Low prices continue to plague most agricultural commodities.
HB 1052 will help producers reduce production expenses and increase their net return margins. HB 1052 is one step in the direction of increasing net farm income and creating prosperous family farms. Chairman Carlson and committee members, I urge a do pass on HB 1052. I would be happy to answer any questions you may have.