senate Bill S780

2011-2012 Legislative Session

Establishes the AgJobs NY program to provide low interest loans to finance certain costs of agribusinesses; appropriates $50,000,000

download bill text pdf

Sponsored By

Archive: Last Bill Status -


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to finance
Jan 05, 2011 referred to finance

S780 - Details

Law Section:
Appropriations
Laws Affected:
Add §298, Ag & Mkts L; add §99-u, St Fin L
Versions Introduced in 2009-2010 Legislative Session:
S2423

S780 - Summary

Establishes the AgJobs NY program to provide low interest loans to finance certain costs of agribusinesses; appropriates $50,000,000.

S780 - Sponsor Memo

S780 - Bill Text download pdf

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

                                   780

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by  Sen.  YOUNG  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Finance

AN ACT to amend the agriculture and markets law and  the  state  finance
  law,  in relation to establishing the AgJobs NY program; 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. The agriculture and markets law is amended by adding a new
section 298 to read as follows:
  S 298. AGJOBS NY PROGRAM. 1.  THERE  IS  HEREBY  ESTABLISHED,  IN  THE
DEPARTMENT,  THE AGJOBS NY PROGRAM WHICH SHALL BE AN AGRICULTURE REVOLV-
ING LOAN PROGRAM. THE PURPOSE OF THE PROGRAM SHALL BE TO  STIMULATE  THE
EXPANSION  AND  ASSIST  IN THE RETENTION OF AGRIBUSINESS IN THE STATE IN
ORDER TO CREATE NEW JOBS AND RETAIN EXISTING JOBS THROUGH THE  PROVISION
OF  LOW  INTEREST FINANCING COSTS DIRECTLY RELATED TO AGRIBUSINESS OPER-
ATIONS. THE PROGRAM SHALL PROVIDE LOW INTEREST LOANS FROM THE MONIES  IN
THE AGJOBS NY REVOLVING LOAN FUND, ESTABLISHED PURSUANT TO SECTION NINE-
TY-NINE-U  OF THE STATE FINANCE LAW, TO AGRICULTURAL PRODUCERS AND AGRI-
CULTURAL ENTERPRISES:
  A. TO ACQUIRE AND INSTALL NEW OR  USED  MACHINERY  AND  EQUIPMENT,  OR
UPGRADE  EXISTING  MACHINERY  AND EQUIPMENT, AND PAY RELATED ENGINEERING
AND INSTALLATION COSTS DIRECTLY RELATED TO BUSINESS OPERATIONS;
  B. TO ACQUIRE A NEW OR EXISTING FACILITY DIRECTLY RELATED TO  BUSINESS
OPERATIONS; OR
  C.  FOR  OPERATIONAL COSTS, INCLUDING, BUT NOT LIMITED TO, SERVICES OR
CONSUMABLE GOODS, NECESSARY TO PRODUCE AN AGRICULTURAL COMMODITY.
  2. FOR THE PURPOSES OF THIS SECTION:
  A. "AGRICULTURAL COMMODITY" SHALL HAVE THE SAME MEANING AS IS ASCRIBED
TO SUCH TERM PURSUANT TO SUBDIVISION ONE OF SECTION TWO HUNDRED  NINETY-
THREE OF THIS CHAPTER.

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

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