S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2488
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 19, 2021
                                ___________
 
 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:
 
   Section 1. Section 16 of the agriculture and markets law is amended by
 adding a new subdivision 52 to read as follows:
   52. 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.
   § 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-bb to read as follows:
   §  16-BB.  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
 INFRASTRUCTURE. FARM INVESTMENT IS ESPECIALLY IMPORTANT FOR  FARMS  THAT
 ARE BEING TRANSITIONED FROM LONG-TIME OWNERS TO NEW OWNERS AND BEGINNING
 FARMERS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD04699-01-1

 A. 2488                             2
 
   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.
   § 3.  Funding for such program shall consist of all  revenue  received
 pursuant to an appropriation thereto, and all other monies appropriated,
 credited  or  transferred from any other source pursuant to law. Nothing
 in this section shall be deemed to  prevent  the  state  from  receiving
 grants,  gifts  or bequests for the purpose of the program. Grants shall
 only be awarded based upon the availability of funds.
   § 4. This act shall take effect on the first of April next  succeeding
 the  date on which it shall have become a law. Effective immediately the
 addition, amendment and/or repeal of any rule  or  regulation  necessary
 for  the implementation of this act on its effective date are authorized
 to be made on or before such date.