The program is designed for asset owners who sell qualifying Minnesota farmland, facilities, machinery, equipment or livestock to an eligible beginning farmer. Both the asset owner and beginning farmer must submit the required applications and transaction documents. A valid purchase agreement may support an application before a sale closes.
For eligible sales, the asset-owner credit equals 8% of the sale price, or 12% when the buyer qualifies as a Limited Land Access Farmer, up to a maximum credit of $50,000. A beginning farmer may also claim a nonrefundable credit for farm-business-management tuition paid out of pocket, capped at $1,500 annually for as many as three years. Beginning farmers must be Minnesota residents, generally have farmed for fewer than 10 years, meet the program's financial and training requirements, and have a net worth below $1,069,000.
Removing the 2026 program cap does not replace the application or eligibility requirements. The July 17 rental-application deadline has passed, while the agency lists November 1 for sales applications and tuition reimbursement. Because the release gives a date but no cutoff time, applicants should submit before November 1 and confirm current instructions with the Minnesota Department of Agriculture rather than assuming an end-of-day deadline.