Bill Text: NY A01419 | 2019-2020 | General Assembly | Introduced
Bill Title: Relates to creating a farm investment fund.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2020-01-08 - referred to agriculture [A01419 Detail]
Download: New_York-2019-A01419-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 1419 2019-2020 Regular Sessions IN ASSEMBLY January 15, 2019 ___________ Introduced by M. of A. SANTABARBARA -- read once and referred to the Committee on Agriculture AN ACT to amend the agriculture and markets law and the New York state urban development corporation act, in relation to creating a farm investment fund The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 16 of the agriculture and markets law is amended by 2 adding a new subdivision 50 to read as follows: 3 50. Cooperate with the empire state development corporation to develop 4 a farm investment fund program to provide grants to farmers for the 5 purposes of making investments in their farm and farm practices, includ- 6 ing, but not limited to, infrastructure, equipment and marketing of farm 7 products. Such investments may also include updating and improving agri- 8 cultural environmental management, as defined in article eleven-A of 9 this chapter, practices, equipment and infrastructure. Farm investment 10 is especially important for farms that are being transitioned from long- 11 time owners to new owners and beginning farmers. 12 § 2. Section 1 of chapter 174 of the laws of 1968, constituting the 13 New York state urban development corporation act, is amended by adding a 14 new section 16-bb to read as follows: 15 § 16-bb. Farm investment fund. 1. The farm investment fund is hereby 16 created. The purpose of the farm investment fund is to make grants to 17 eligible applicants for investments in their farm and farm practices, 18 including, but not limited to, infrastructure, equipment and marketing 19 of farm products. Such investment may also include updating and improv- 20 ing agricultural environmental management, as defined in article 21 eleven-A of the agriculture and markets law, practices, equipment and 22 infrastructure. Farm investment is especially important for farms that 23 are being transitioned from long-time owners to new owners and beginning 24 farmers. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD06411-01-9A. 1419 2 1 2. The corporation shall consult with the department of agriculture 2 and markets in order to establish such criteria governing the award of 3 grants as authorized by this section, as the corporation and such 4 department deem necessary. Such criteria shall include, but not be 5 limited to: 6 (a) farmers who will materially and substantially participate in the 7 production of an agricultural product within a region of the state; 8 (b) farmers who demonstrate innovative plans for investing in their 9 farms that would result in the growth of business within the state and 10 the concomitant creation of jobs and tax revenues for the state; and 11 (c) farmers who have developed a formal business plan. 12 3. The corporation shall establish a competitive rating process for 13 the evaluation of applicants for the farm investment fund. Such rating 14 criteria to be considered for eligibility include, but are not limited 15 to: 16 (a) plans that show concrete steps for growth, protection of assets 17 and sales development; 18 (b) education, including a post secondary degree in an agriculture 19 related field of study or online training; and 20 (c) experience working on a farm. 21 The corporation may give preference to veterans, those transferring a 22 family farm to a new farmer and to farmers expanding an existing farm. 23 When awarding funds pursuant to this section, the corporation shall 24 ensure that applicants meet the criteria and requirements established by 25 the corporation pursuant to this section. 26 4. The farm investment fund shall not invest an amount in any single 27 beneficiary that exceeds fifty thousand dollars, subject to any 28 exceptions to be established by guidelines of the corporation. 29 5. Notwithstanding any provision of law to the contrary, the corpo- 30 ration may establish a program fund for program use and pay into such 31 fund any eligible funds available to the corporation from any source, 32 including moneys appropriated by the state. 33 6. The corporation shall submit a report annually on December thirty- 34 first to the director of the budget, the temporary president of the 35 senate, the speaker of the assembly, the minority leader of the senate 36 and the minority leader of the assembly detailing: 37 (a) the total amount of funds committed to each applicant; 38 (b) the location of each applicant; and 39 (c) such other information as the corporation deems necessary. 40 7. The corporation is hereby authorized to establish guidelines for 41 the administration of the program, including application procedures and 42 disbursement terms. Such guidelines shall require the repayment of funds 43 received by the beneficiary if the beneficiary leaves New York state or 44 otherwise ceases farming activity within five years. Any such repaid 45 moneys shall be returned to the farm investment fund. 46 § 3. Funding for such program shall consist of all revenue received 47 pursuant to an appropriation thereto, and all other monies appropriated, 48 credited or transferred from any other source pursuant to law. Nothing 49 in this section shall be deemed to prevent the state from receiving 50 grants, gifts or bequests for the purpose of the program. Grants shall 51 only be awarded based upon the availability of funds. 52 § 4. This act shall take effect on the first of April next succeeding 53 the date on which it shall have become a law. Effective immediately the 54 addition, amendment and/or repeal of any rule or regulation necessary 55 for the implementation of this act on its effective date are authorized 56 to be made and completed on or before such date.
