Assembly Bill A2488

2021-2022 Legislative Session

Creates a farm investment fund

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2021-A2488 (ACTIVE) - Details

Current Committee:
Assembly Agriculture
Law Section:
Agriculture and Markets Law
Laws Affected:
Amd §16, Ag & Mkts L; add §16-bb, UDC Act
Versions Introduced in Other Legislative Sessions:
2013-2014: A7037
2015-2016: A2417, A9263
2017-2018: A4567
2019-2020: A1419

2021-A2488 (ACTIVE) - Summary

Relates to creating a farm investment fund.

2021-A2488 (ACTIVE) - Bill Text download pdf

                            
 
                     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.
              

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