§ 16-w. Beginning farmers NY fund. 1. The beginning farmers NY fund is
hereby created. The purpose of the beginning farmers NY fund is to make
grants to eligible applicants, to support beginning farmers and
encourage them to consider farming as a career, resulting in the growth
of agribusiness within the state and the concomitant tax revenues for
the state.

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 herein, as the corporation and such department deem
necessary. Such criteria shall include, but not be limited to, farmers
who have not produced an "agricultural product" as defined by section
three hundred twenty-eight of the agriculture and markets law, for more
than ten consecutive years, and who will materially and substantially
participate in the production of an agricultural product within a region
of the state.

3. Appropriations to the beginning farmers NY fund may be used for the
following purposes:

(a) to assist farmers in demonstrating innovative agricultural
techniques including, but not limited to, organic farming and specialty
crops.

(b) capital grants in accordance with a business plan to improve farm
profitability. Upon completion of such business plan, recipients shall
be eligible for capital grants to enhance the profitability of farming
operations. Such grants may be used for purposes including, but not
limited to, the purchase of machinery or the construction or improvement
of physical structures. Any capital grant shall be issued with a
one-to-one match between the state and recipient.

4. The corporation shall establish a competitive process for the
evaluation of applicants for the beginning farmers NY fund. When
awarding funds pursuant to this section, the corporation shall ensure
that applicants meet the criteria and requirements determined by the
corporation pursuant to this section.

5. The beginning farmers NY 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.

6. Notwithstanding any provision of law to the contrary, the
corporation 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.

7. 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.

8. 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.