Bill Text: NY S03678 | 2015-2016 | General Assembly | Amended
Bill Title: Relates to creating a farm investment fund.
Spectrum: Slight Partisan Bill (Republican 4-2)
Status: (Engrossed - Dead) 2016-06-09 - SUBSTITUTED BY A2417C [S03678 Detail]
Download: New_York-2015-S03678-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 3678--C Cal. No. 1391 2015-2016 Regular Sessions IN SENATE February 13, 2015 ___________ Introduced by Sens. FUNKE, LARKIN, MARCHIONE, PANEPINTO, RITCHIE, VALE- SKY -- read twice and ordered printed, and when printed to be commit- ted to the Committee on Agriculture -- reported favorably from said committee and committed to the Committee on Finance -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- recommitted to the Committee on Agriculture in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said commit- tee -- reported favorably from said committee and committed to the Committee on Finance -- reported favorably from said committee, ordered to first report, amended on first report, ordered to a second report and ordered reprinted, retaining its place in the order of second report 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. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD01493-15-6S. 3678--C 2 1 § 2. Section 1 of chapter 174 of the laws of 1968, constituting the 2 New York state urban development corporation act, is amended by adding a 3 new section 16-x to read as follows: 4 § 16-x. Farm investment fund. 1. The farm investment fund is hereby 5 created. The purpose of the farm investment fund is to make grants to 6 eligible applicants for investments in their farm and farm practices, 7 including, but not limited to, infrastructure, equipment and marketing 8 of farm products. Such investment may also include updating and improv- 9 ing agricultural environmental management, as defined in article 10 eleven-A of the agriculture and markets law, practices, equipment and 11 infrastructure. Farm investment is especially important for farms that 12 are being transitioned from long-time owners to new owners and beginning 13 farmers. 14 2. The corporation shall consult with the department of agriculture 15 and markets in order to establish such criteria governing the award of 16 grants as authorized by this section, as the corporation and such 17 department deem necessary. Such criteria shall include, but not be 18 limited to: 19 (a) farmers who will materially and substantially participate in the 20 production of an agricultural product within a region of the state; 21 (b) farmers who demonstrate innovative plans for investing in their 22 farms that would result in the growth of business within the state and 23 the concomitant creation of jobs and tax revenues for the state; and 24 (c) farmers who have developed a formal business plan. 25 3. The corporation shall establish a competitive rating process for 26 the evaluation of applicants for the farm investment fund. Such rating 27 criteria to be considered for eligibility include, but are not limited 28 to: 29 (a) plans that show concrete steps for growth, protection of assets 30 and sales development; 31 (b) education, including a post secondary degree in an agriculture 32 related field of study or online training; and 33 (c) experience working on a farm. 34 The corporation may give preference to veterans, those transferring a 35 family farm to a new farmer and to farmers expanding an existing farm. 36 When awarding funds pursuant to this section, the corporation shall 37 ensure that applicants meet the criteria and requirements established by 38 the corporation pursuant to this section. 39 4. The farm investment fund shall not invest an amount in any single 40 beneficiary that exceeds fifty thousand dollars, subject to any 41 exceptions to be established by guidelines of the corporation. 42 5. Notwithstanding any provision of law to the contrary, the corpo- 43 ration may establish a program fund for program use and pay into such 44 fund any eligible funds available to the corporation from any source, 45 including moneys appropriated by the state. 46 6. The corporation shall submit a report annually on December thirty- 47 first to the director of the budget, the temporary president of the 48 senate, the speaker of the assembly, the minority leader of the senate 49 and the minority leader of the assembly detailing: 50 (a) the total amount of funds committed to each applicant; 51 (b) the location of each applicant; and 52 (c) such other information as the corporation deems necessary. 53 7. The corporation is hereby authorized to establish guidelines for 54 the administration of the program, including application procedures and 55 disbursement terms. Such guidelines shall require the repayment of funds 56 received by the beneficiary if the beneficiary leaves New York state orS. 3678--C 3 1 otherwise ceases farming activity within five years. Any such repaid 2 moneys shall be returned to the farm investment fund. 3 § 3. Funding for such program shall consist of all revenue received 4 pursuant to an appropriation thereto, and all other monies appropriated, 5 credited or transferred from any other source pursuant to law. Nothing 6 in this section shall be deemed to prevent the state from receiving 7 grants, gifts or bequests for the purpose of the program. Grants shall 8 only be awarded based upon the availability of funds. 9 § 4. This act shall take effect on the first of April next succeeding 10 the date on which it shall have become a law; provided, however, that 11 effective immediately, the addition, amendment and/or repeal of any rule 12 or regulation necessary for the implementation of this act on its effec- 13 tive date is authorized to be made and completed on or before such date.
