S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  3678

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 13, 2015
                               ___________

Introduced  by  Sen.  FUNKE  -- read twice and ordered printed, and when
  printed to be committed 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 small
  farm modernization fund

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 16 of the agriculture and markets law is amended by
adding a new subdivision 48 to read as follows:
  48. COOPERATE WITH THE EMPIRE STATE DEVELOPMENT CORPORATION TO DEVELOP
A SMALL FARM MODERNIZATION FUND PROGRAM TO PROVIDE GRANTS TO FARMERS FOR
THE  PURPOSES  OF  MODERNIZING THEIR FARM AND FARM PRACTICES, INCLUDING,
BUT NOT  LIMITED  TO,  INFRASTRUCTURE,  EQUIPMENT,  CROPS,  ANIMALS  AND
MARKETING OF FARM PRODUCTS. SUCH MODERNIZATION MAY ALSO INCLUDE UPDATING
AND IMPROVING AGRICULTURAL ENVIRONMENTAL MANAGEMENT, AS DEFINED IN ARTI-
CLE  ELEVEN-A  OF THIS CHAPTER, PRACTICES, EQUIPMENT AND INFRASTRUCTURE.
FARM MODERNIZATION IS ESPECIALLY IMPORTANT  FOR  FARMS  THAT  ARE  BEING
TRANSITIONED  FROM LONG-TIME OWNERS TO NEW OWNERS AND BEGINNING FARMERS.
FOR THE PURPOSES OF THIS PROGRAM THE TERM "SMALL FARM" SHALL MEAN A FARM
OF ONE HUNDRED FIFTY ACRES OR LESS.
  S 2. Section 1 of chapter 174 of the laws of  1968,  constituting  the
New York state urban development corporation act, is amended by adding a
new section 16-x to read as follows:
  S 16-X. SMALL FARM MODERNIZATION FUND. 1. THE SMALL FARM MODERNIZATION
FUND IS HEREBY CREATED. THE PURPOSE OF THE SMALL FARM MODERNIZATION FUND
IS  TO MAKE GRANTS TO ELIGIBLE APPLICANTS FOR MODERNIZING THEIR FARM AND
FARM PRACTICES, INCLUDING, BUT NOT LIMITED  TO,  INFRASTRUCTURE,  EQUIP-
MENT, CROPS, ANIMALS, AND MARKETING OF FARM PRODUCTS. SUCH MODERNIZATION
MAY  ALSO  INCLUDE  UPDATING  AND  IMPROVING  AGRICULTURAL ENVIRONMENTAL
MANAGEMENT, AS DEFINED  IN  ARTICLE  ELEVEN-A  OF  THE  AGRICULTURE  AND
MARKETS LAW, PRACTICES, EQUIPMENT AND INFRASTRUCTURE. FARM MODERNIZATION

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01493-03-5
              

S. 3678                             2

IS  ESPECIALLY  IMPORTANT  FOR  FARMS  THAT  ARE BEING TRANSITIONED FROM
LONG-TIME OWNERS TO NEW OWNERS AND BEGINNING FARMERS.
  2.  THE  CORPORATION  SHALL CONSULT WITH THE DEPARTMENT OF AGRICULTURE
AND MARKETS IN ORDER TO ESTABLISH SUCH CRITERIA GOVERNING THE  AWARD  OF
GRANTS  AS  AUTHORIZED  BY  THIS  SECTION,  AS  THE CORPORATION AND SUCH
DEPARTMENT DEEM NECESSARY. SUCH  CRITERIA  SHALL  INCLUDE,  BUT  NOT  BE
LIMITED TO:
  (A)  FARMERS  WHO WILL MATERIALLY AND SUBSTANTIALLY PARTICIPATE IN THE
PRODUCTION OF AN AGRICULTURAL PRODUCT WITHIN A REGION OF THE STATE;
  (B) FARMERS WHO DEMONSTRATE INNOVATIVE  PLANS  FOR  MODERNIZING  THEIR
FARMS  THAT  WOULD RESULT IN THE GROWTH OF BUSINESS WITHIN THE STATE AND
THE CONCOMITANT CREATION OF JOBS AND TAX REVENUES FOR THE STATE; AND
  (C) FARMS OF ONE HUNDRED FIFTY ACRES OR LESS.
  3. THE CORPORATION SHALL ESTABLISH A COMPETITIVE PROCESS FOR THE EVAL-
UATION OF APPLICANTS FOR THE SMALL FARM MODERNIZATION FUND. WHEN  AWARD-
ING  FUNDS  PURSUANT  TO THIS SECTION, THE CORPORATION SHALL ENSURE THAT
APPLICANTS MEET THE CRITERIA AND REQUIREMENTS ESTABLISHED BY THE  CORPO-
RATION PURSUANT TO THIS SECTION.
  4. THE SMALL FARM MODERNIZATION FUND SHALL NOT INVEST AN AMOUNT IN ANY
SINGLE  BENEFICIARY  THAT EXCEEDS FIFTY THOUSAND DOLLARS, SUBJECT TO ANY
EXCEPTIONS TO BE ESTABLISHED BY GUIDELINES OF THE CORPORATION.
  5. NOTWITHSTANDING ANY PROVISION OF LAW TO THE  CONTRARY,  THE  CORPO-
RATION  MAY  ESTABLISH  A PROGRAM FUND FOR PROGRAM USE AND PAY INTO SUCH
FUND ANY ELIGIBLE FUNDS AVAILABLE TO THE CORPORATION  FROM  ANY  SOURCE,
INCLUDING MONEYS APPROPRIATED BY THE STATE.
  6.  THE CORPORATION SHALL SUBMIT A REPORT ANNUALLY ON DECEMBER THIRTY-
FIRST TO THE DIRECTOR OF THE BUDGET,  THE  TEMPORARY  PRESIDENT  OF  THE
SENATE,  THE  SPEAKER OF THE ASSEMBLY, THE MINORITY LEADER OF THE SENATE
AND THE MINORITY LEADER OF THE ASSEMBLY DETAILING:
  (A) THE TOTAL AMOUNT OF FUNDS COMMITTED TO EACH APPLICANT;
  (B) THE LOCATION OF EACH APPLICANT; AND
  (C) SUCH OTHER INFORMATION AS THE CORPORATION DEEMS NECESSARY.
  7. THE CORPORATION IS HEREBY AUTHORIZED TO  ESTABLISH  GUIDELINES  FOR
THE  ADMINISTRATION OF THE PROGRAM, INCLUDING APPLICATION PROCEDURES AND
DISBURSEMENT TERMS, AND TO PROVIDE FOR THE REPAYMENT OF  FUNDS  RECEIVED
BY THE BENEFICIARY IF THE BENEFICIARY LEAVES NEW YORK STATE OR OTHERWISE
CEASES FARMING ACTIVITY WITHIN A PERIOD OF TIME TO BE ESTABLISHED BY THE
CORPORATION.
  S  3. This act shall take effect on the first of April next succeeding
the date on which it shall have become a law;  provided,  however,  that
effective immediately, the addition, amendment and/or repeal of any rule
or regulation necessary for the implementation of this act on its effec-
tive date is authorized to be made and completed on or before such date.

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 3678--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 13, 2015
                               ___________

Introduced  by Sens. FUNKE, PANEPINTO, VALESKY -- read twice and ordered
  printed, and when printed to be committed to the Committee on Agricul-
  ture -- 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

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 and making an appropriation therefor

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 16 of the agriculture and markets law is amended by
adding a new subdivision 48 to read as follows:
  48. COOPERATE WITH THE EMPIRE STATE DEVELOPMENT CORPORATION TO DEVELOP
A  FARM  INVESTMENT  FUND  PROGRAM  TO PROVIDE GRANTS TO FARMERS FOR THE
PURPOSES OF MAKING INVESTMENTS IN THEIR FARM AND FARM PRACTICES, INCLUD-
ING, BUT NOT LIMITED TO, INFRASTRUCTURE, EQUIPMENT AND MARKETING OF FARM
PRODUCTS. SUCH INVESTMENTS MAY ALSO INCLUDE UPDATING AND IMPROVING AGRI-
CULTURAL ENVIRONMENTAL MANAGEMENT, AS DEFINED  IN  ARTICLE  ELEVEN-A  OF
THIS  CHAPTER,  PRACTICES, EQUIPMENT AND INFRASTRUCTURE. FARM INVESTMENT
IS ESPECIALLY IMPORTANT FOR  FARMS  THAT  ARE  BEING  TRANSITIONED  FROM
LONG-TIME OWNERS TO NEW OWNERS AND BEGINNING FARMERS.
  S  2.  Section  1 of chapter 174 of the laws of 1968, constituting the
New York state urban development corporation act, is amended by adding a
new section 16-x to read as follows:
  S 16-X. FARM INVESTMENT FUND. 1. THE FARM INVESTMENT  FUND  IS  HEREBY
CREATED.  THE  PURPOSE  OF THE FARM INVESTMENT FUND IS TO MAKE GRANTS TO
ELIGIBLE APPLICANTS FOR INVESTMENTS IN THEIR FARM  AND  FARM  PRACTICES,
INCLUDING,  BUT  NOT LIMITED TO, INFRASTRUCTURE, EQUIPMENT AND MARKETING
OF FARM PRODUCTS. SUCH INVESTMENT MAY ALSO INCLUDE UPDATING AND  IMPROV-
ING   AGRICULTURAL  ENVIRONMENTAL  MANAGEMENT,  AS  DEFINED  IN  ARTICLE
ELEVEN-A OF THE AGRICULTURE AND MARKETS LAW,  PRACTICES,  EQUIPMENT  AND

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01493-07-5
              

S. 3678--A                          2

INFRASTRUCTURE.  FARM  INVESTMENT IS ESPECIALLY IMPORTANT FOR FARMS THAT
ARE BEING TRANSITIONED FROM LONG-TIME OWNERS TO NEW OWNERS AND BEGINNING
FARMERS.
  2.  THE  CORPORATION  SHALL CONSULT WITH THE DEPARTMENT OF AGRICULTURE
AND MARKETS IN ORDER TO ESTABLISH SUCH CRITERIA GOVERNING THE  AWARD  OF
GRANTS  AS  AUTHORIZED  BY  THIS  SECTION,  AS  THE CORPORATION AND SUCH
DEPARTMENT DEEM NECESSARY. SUCH  CRITERIA  SHALL  INCLUDE,  BUT  NOT  BE
LIMITED TO:
  (A)  FARMERS  WHO WILL MATERIALLY AND SUBSTANTIALLY PARTICIPATE IN THE
PRODUCTION OF AN AGRICULTURAL PRODUCT WITHIN A REGION OF THE STATE;
  (B) FARMERS WHO DEMONSTRATE INNOVATIVE PLANS FOR  INVESTING  IN  THEIR
FARMS  THAT  WOULD RESULT IN THE GROWTH OF BUSINESS WITHIN THE STATE AND
THE CONCOMITANT CREATION OF JOBS AND TAX REVENUES FOR THE STATE; AND
  (C) FARMERS WHO HAVE DEVELOPED A FORMAL BUSINESS PLAN.
  3. THE CORPORATION SHALL ESTABLISH A COMPETITIVE  RATING  PROCESS  FOR
THE  EVALUATION  OF APPLICANTS FOR THE FARM INVESTMENT FUND. SUCH RATING
CRITERIA TO BE CONSIDERED FOR ELIGIBILITY INCLUDE, BUT ARE  NOT  LIMITED
TO:
  (A)  PLANS  THAT  SHOW CONCRETE STEPS FOR GROWTH, PROTECTION OF ASSETS
AND SALES DEVELOPMENT;
  (B) EDUCATION, INCLUDING A POST SECONDARY  DEGREE  IN  AN  AGRICULTURE
RELATED FIELD OF STUDY OR ONLINE TRAINING; AND
  (C) EXPERIENCE WORKING ON A FARM.
  THE  CORPORATION MAY GIVE PREFERENCE TO VETERANS, THOSE TRANSFERRING A
FAMILY FARM TO A NEW FARMER AND TO FARMERS EXPANDING AN  EXISTING  FARM.
WHEN  AWARDING  FUNDS  PURSUANT  TO  THIS SECTION, THE CORPORATION SHALL
ENSURE THAT APPLICANTS MEET THE CRITERIA AND REQUIREMENTS ESTABLISHED BY
THE CORPORATION PURSUANT TO THIS SECTION.
  4. THE FARM INVESTMENT FUND SHALL NOT INVEST AN AMOUNT IN  ANY  SINGLE
BENEFICIARY   THAT  EXCEEDS  FIFTY  THOUSAND  DOLLARS,  SUBJECT  TO  ANY
EXCEPTIONS TO BE ESTABLISHED BY GUIDELINES OF THE CORPORATION.
  5. NOTWITHSTANDING ANY PROVISION OF LAW TO THE  CONTRARY,  THE  CORPO-
RATION  MAY  ESTABLISH  A PROGRAM FUND FOR PROGRAM USE AND PAY INTO SUCH
FUND ANY ELIGIBLE FUNDS AVAILABLE TO THE CORPORATION  FROM  ANY  SOURCE,
INCLUDING MONEYS APPROPRIATED BY THE STATE.
  6.  THE CORPORATION SHALL SUBMIT A REPORT ANNUALLY ON DECEMBER THIRTY-
FIRST TO THE DIRECTOR OF THE BUDGET,  THE  TEMPORARY  PRESIDENT  OF  THE
SENATE,  THE  SPEAKER OF THE ASSEMBLY, THE MINORITY LEADER OF THE SENATE
AND THE MINORITY LEADER OF THE ASSEMBLY DETAILING:
  (A) THE TOTAL AMOUNT OF FUNDS COMMITTED TO EACH APPLICANT;
  (B) THE LOCATION OF EACH APPLICANT; AND
  (C) SUCH OTHER INFORMATION AS THE CORPORATION DEEMS NECESSARY.
  7. THE CORPORATION IS HEREBY AUTHORIZED TO  ESTABLISH  GUIDELINES  FOR
THE  ADMINISTRATION OF THE PROGRAM, INCLUDING APPLICATION PROCEDURES AND
DISBURSEMENT TERMS. SUCH GUIDELINES SHALL REQUIRE THE REPAYMENT OF FUNDS
RECEIVED BY THE BENEFICIARY IF THE BENEFICIARY LEAVES NEW YORK STATE  OR
OTHERWISE  CEASES  FARMING  ACTIVITY  WITHIN FIVE YEARS. ANY SUCH REPAID
MONEYS SHALL BE RETURNED TO THE FARM INVESTMENT FUND.
  S 3. The sum of up to ten million dollars ($10,000,000),  or  so  much
thereof  as may be necessary, is hereby appropriated to the farm invest-
ment fund from any moneys in the state treasury in the general  fund  to
the  credit of the empire state development corporation for the purposes
of carrying out the provisions of this act. Such sum shall be payable on
the audit and warrant of the state comptroller on vouchers certified  or
approved  by  the  commissioner of agriculture and markets or his or her
duly designated representative in the manner provided by law.

S. 3678--A                          3

  S 4. This act shall take effect on the first of April next  succeeding
the  date  on  which it shall have become a law; provided, however, that
effective immediately, the addition, amendment and/or repeal of any rule
or regulation necessary for the implementation of this act on its effec-
tive date is authorized to be made and completed on or before such date.

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 3678--B

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            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

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 and making an appropriation therefor

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 16 of the agriculture and markets law is amended by
adding a new subdivision 49 to read as follows:
  49. COOPERATE WITH THE EMPIRE STATE DEVELOPMENT CORPORATION TO DEVELOP
A  FARM  INVESTMENT  FUND  PROGRAM  TO PROVIDE GRANTS TO FARMERS FOR THE
PURPOSES OF MAKING INVESTMENTS IN THEIR FARM AND FARM PRACTICES, INCLUD-
ING, BUT NOT LIMITED TO, INFRASTRUCTURE, EQUIPMENT AND MARKETING OF FARM
PRODUCTS. SUCH INVESTMENTS MAY ALSO INCLUDE UPDATING AND IMPROVING AGRI-
CULTURAL ENVIRONMENTAL MANAGEMENT, AS DEFINED  IN  ARTICLE  ELEVEN-A  OF
THIS  CHAPTER,  PRACTICES, EQUIPMENT AND INFRASTRUCTURE. FARM INVESTMENT
IS ESPECIALLY IMPORTANT FOR  FARMS  THAT  ARE  BEING  TRANSITIONED  FROM
LONG-TIME OWNERS TO NEW OWNERS AND BEGINNING FARMERS.
  S  2.  Section  1 of chapter 174 of the laws of 1968, constituting the
New York state urban development corporation act, is amended by adding a
new section 16-x to read as follows:
  S 16-X. FARM INVESTMENT FUND. 1. THE FARM INVESTMENT  FUND  IS  HEREBY
CREATED.  THE  PURPOSE  OF THE FARM INVESTMENT FUND IS TO MAKE GRANTS TO
ELIGIBLE APPLICANTS FOR INVESTMENTS IN THEIR FARM  AND  FARM  PRACTICES,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01493-12-6
              

S. 3678--B                          2

INCLUDING,  BUT  NOT LIMITED TO, INFRASTRUCTURE, EQUIPMENT AND MARKETING
OF FARM PRODUCTS. SUCH INVESTMENT MAY ALSO INCLUDE UPDATING AND  IMPROV-
ING   AGRICULTURAL  ENVIRONMENTAL  MANAGEMENT,  AS  DEFINED  IN  ARTICLE
ELEVEN-A  OF  THE  AGRICULTURE AND MARKETS LAW, PRACTICES, EQUIPMENT AND
INFRASTRUCTURE. FARM INVESTMENT IS ESPECIALLY IMPORTANT FOR  FARMS  THAT
ARE BEING TRANSITIONED FROM LONG-TIME OWNERS TO NEW OWNERS AND BEGINNING
FARMERS.
  2.  THE  CORPORATION  SHALL CONSULT WITH THE DEPARTMENT OF AGRICULTURE
AND MARKETS IN ORDER TO ESTABLISH SUCH CRITERIA GOVERNING THE  AWARD  OF
GRANTS  AS  AUTHORIZED  BY  THIS  SECTION,  AS  THE CORPORATION AND SUCH
DEPARTMENT DEEM NECESSARY. SUCH  CRITERIA  SHALL  INCLUDE,  BUT  NOT  BE
LIMITED TO:
  (A)  FARMERS  WHO WILL MATERIALLY AND SUBSTANTIALLY PARTICIPATE IN THE
PRODUCTION OF AN AGRICULTURAL PRODUCT WITHIN A REGION OF THE STATE;
  (B) FARMERS WHO DEMONSTRATE INNOVATIVE PLANS FOR  INVESTING  IN  THEIR
FARMS  THAT  WOULD RESULT IN THE GROWTH OF BUSINESS WITHIN THE STATE AND
THE CONCOMITANT CREATION OF JOBS AND TAX REVENUES FOR THE STATE; AND
  (C) FARMERS WHO HAVE DEVELOPED A FORMAL BUSINESS PLAN.
  3. THE CORPORATION SHALL ESTABLISH A COMPETITIVE  RATING  PROCESS  FOR
THE  EVALUATION  OF APPLICANTS FOR THE FARM INVESTMENT FUND. SUCH RATING
CRITERIA TO BE CONSIDERED FOR ELIGIBILITY INCLUDE, BUT ARE  NOT  LIMITED
TO:
  (A)  PLANS  THAT  SHOW CONCRETE STEPS FOR GROWTH, PROTECTION OF ASSETS
AND SALES DEVELOPMENT;
  (B) EDUCATION, INCLUDING A POST SECONDARY  DEGREE  IN  AN  AGRICULTURE
RELATED FIELD OF STUDY OR ONLINE TRAINING; AND
  (C) EXPERIENCE WORKING ON A FARM.
  THE  CORPORATION MAY GIVE PREFERENCE TO VETERANS, THOSE TRANSFERRING A
FAMILY FARM TO A NEW FARMER AND TO FARMERS EXPANDING AN  EXISTING  FARM.
WHEN  AWARDING  FUNDS  PURSUANT  TO  THIS SECTION, THE CORPORATION SHALL
ENSURE THAT APPLICANTS MEET THE CRITERIA AND REQUIREMENTS ESTABLISHED BY
THE CORPORATION PURSUANT TO THIS SECTION.
  4. THE FARM INVESTMENT FUND SHALL NOT INVEST AN AMOUNT IN  ANY  SINGLE
BENEFICIARY   THAT  EXCEEDS  FIFTY  THOUSAND  DOLLARS,  SUBJECT  TO  ANY
EXCEPTIONS TO BE ESTABLISHED BY GUIDELINES OF THE CORPORATION.
  5. NOTWITHSTANDING ANY PROVISION OF LAW TO THE  CONTRARY,  THE  CORPO-
RATION  MAY  ESTABLISH  A PROGRAM FUND FOR PROGRAM USE AND PAY INTO SUCH
FUND ANY ELIGIBLE FUNDS AVAILABLE TO THE CORPORATION  FROM  ANY  SOURCE,
INCLUDING MONEYS APPROPRIATED BY THE STATE.
  6.  THE CORPORATION SHALL SUBMIT A REPORT ANNUALLY ON DECEMBER THIRTY-
FIRST TO THE DIRECTOR OF THE BUDGET,  THE  TEMPORARY  PRESIDENT  OF  THE
SENATE,  THE  SPEAKER OF THE ASSEMBLY, THE MINORITY LEADER OF THE SENATE
AND THE MINORITY LEADER OF THE ASSEMBLY DETAILING:
  (A) THE TOTAL AMOUNT OF FUNDS COMMITTED TO EACH APPLICANT;
  (B) THE LOCATION OF EACH APPLICANT; AND
  (C) SUCH OTHER INFORMATION AS THE CORPORATION DEEMS NECESSARY.
  7. THE CORPORATION IS HEREBY AUTHORIZED TO  ESTABLISH  GUIDELINES  FOR
THE  ADMINISTRATION OF THE PROGRAM, INCLUDING APPLICATION PROCEDURES AND
DISBURSEMENT TERMS. SUCH GUIDELINES SHALL REQUIRE THE REPAYMENT OF FUNDS
RECEIVED BY THE BENEFICIARY IF THE BENEFICIARY LEAVES NEW YORK STATE  OR
OTHERWISE  CEASES  FARMING  ACTIVITY  WITHIN FIVE YEARS. ANY SUCH REPAID
MONEYS SHALL BE RETURNED TO THE FARM INVESTMENT FUND.
  S 3. The sum of up to ten million dollars ($10,000,000),  or  so  much
thereof  as may be necessary, is hereby appropriated to the farm invest-
ment fund from any moneys in the state treasury in the general  fund  to
the  credit of the empire state development corporation for the purposes

S. 3678--B                          3

of carrying out the provisions of this act. Such sum shall be payable on
the audit and warrant of the state comptroller on vouchers certified  or
approved  by  the  commissioner of agriculture and markets or his or her
duly designated representative in the manner provided by law.
  S  4. This act shall take effect on the first of April next succeeding
the date on which it shall have become a law;  provided,  however,  that
effective immediately, the addition, amendment and/or repeal of any rule
or regulation necessary for the implementation of this act on its effec-
tive date is authorized to be made and completed on or before such date.