Bill Text: NY A04567 | 2017-2018 | General Assembly | Introduced
Bill Title: Relates to creating a farm investment fund.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2018-01-03 - referred to agriculture [A04567 Detail]
Download: New_York-2017-A04567-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 4567 2017-2018 Regular Sessions IN ASSEMBLY February 3, 2017 ___________ 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 49 to read as follows: 3 49. 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-aa to read as follows: 15 § 16-aa. 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. 25 2. The corporation shall consult with the department of agriculture 26 and markets in order to establish such criteria governing the award of 27 grants as authorized by this section, as the corporation and such EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD04220-01-7A. 4567 2 1 department deem necessary. Such criteria shall include, but not be 2 limited to: 3 (a) farmers who will materially and substantially participate in the 4 production of an agricultural product within a region of the state; 5 (b) farmers who demonstrate innovative plans for investing in their 6 farms that would result in the growth of business within the state and 7 the concomitant creation of jobs and tax revenues for the state; and 8 (c) farmers who have developed a formal business plan. 9 3. The corporation shall establish a competitive rating process for 10 the evaluation of applicants for the farm investment fund. Such rating 11 criteria to be considered for eligibility include, but are not limited 12 to: 13 (a) plans that show concrete steps for growth, protection of assets 14 and sales development; 15 (b) education, including a post secondary degree in an agriculture 16 related field of study or online training; and 17 (c) experience working on a farm. 18 The corporation may give preference to veterans, those transferring a 19 family farm to a new farmer and to farmers expanding an existing farm. 20 When awarding funds pursuant to this section, the corporation shall 21 ensure that applicants meet the criteria and requirements established by 22 the corporation pursuant to this section. 23 4. The farm investment fund shall not invest an amount in any single 24 beneficiary that exceeds fifty thousand dollars, subject to any 25 exceptions to be established by guidelines of the corporation. 26 5. Notwithstanding any provision of law to the contrary, the corpo- 27 ration may establish a program fund for program use and pay into such 28 fund any eligible funds available to the corporation from any source, 29 including moneys appropriated by the state. 30 6. The corporation shall submit a report annually on December thirty- 31 first to the director of the budget, the temporary president of the 32 senate, the speaker of the assembly, the minority leader of the senate 33 and the minority leader of the assembly detailing: 34 (a) the total amount of funds committed to each applicant; 35 (b) the location of each applicant; and 36 (c) such other information as the corporation deems necessary. 37 7. The corporation is hereby authorized to establish guidelines for 38 the administration of the program, including application procedures and 39 disbursement terms. Such guidelines shall require the repayment of funds 40 received by the beneficiary if the beneficiary leaves New York state or 41 otherwise ceases farming activity within five years. Any such repaid 42 moneys shall be returned to the farm investment fund. 43 § 3. Funding for such program shall consist of all revenue received 44 pursuant to an appropriation thereto, and all other monies appropriated, 45 credited or transferred from any other source pursuant to law. Nothing 46 in this section shall be deemed to prevent the state from receiving 47 grants, gifts or bequests for the purpose of the program. Grants shall 48 only be awarded based upon the availability of funds. 49 § 4. This act shall take effect on the first of April next succeeding 50 the date on which it shall have become a law; provided, however, that 51 effective immediately, the addition, amendment and/or repeal of any rule 52 or regulation necessary for the implementation of this act on its effec- 53 tive date are authorized to be made and completed on or before such 54 date.
