Senate Bill S2407

2023-2024 Legislative Session

Establishes the farm ownership succession planning program

download bill text pdf

Sponsored By

Current 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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2023-S2407 (ACTIVE) - Details

See Assembly Version of this Bill:
A7457
Current Committee:
Assembly Agriculture
Law Section:
Agriculture and Markets Law
Laws Affected:
Add §323-a, Ag & Mkts L
Versions Introduced in 2021-2022 Legislative Session:
S6868, A7413

2023-S2407 (ACTIVE) - Summary

Establishes the farm ownership succession planning program to provide farm owners with a succession planning toolkit that can be used by such farm owners who plan on selling or closing their farm.

2023-S2407 (ACTIVE) - Sponsor Memo

2023-S2407 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2407
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 20, 2023
                                ___________
 
 Introduced  by  Sen.  BAILEY -- 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, in relation  to  estab-
   lishing the farm ownership succession planning program (FOSPP)
 
   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 323-a to read as follows:
   §  323-A.  FARM  OWNERSHIP SUCCESSION PLANNING PROGRAM. 1. THE COMMIS-
 SIONER, IN CONJUNCTION WITH THE DEPARTMENT OF ECONOMIC  DEVELOPMENT  AND
 THE DEPARTMENT OF FINANCIAL SERVICES, SHALL ESTABLISH THE FARM OWNERSHIP
 SUCCESSION  PLANNING  PROGRAM  (HEREINAFTER REFERRED TO AS "THE FOSPP").
 SUCH PROGRAM SHALL BE ESTABLISHED BY AUGUST FIRST, TWO THOUSAND  TWENTY-
 FOUR  AND HOLD ITS FIRST FORUM NO LATER THAN OCTOBER FIRST, TWO THOUSAND
 TWENTY-FOUR.
   2. THE FOSPP SHALL PROVIDE FARM  OWNERS  WITH  A  SUCCESSION  PLANNING
 TOOLKIT THAT CAN BE USED BY SUCH FARM OWNERS WHO ARE PLANNING ON SELLING
 OR  CLOSING  THEIR  FARM. SUCH TOOLKIT SHALL INCLUDE, BUT NOT BE LIMITED
 TO, THE FOLLOWING:
   (A) FINANCIAL RESOURCES AVAILABLE TO PROSPECTIVE FARMERS INTERESTED IN
 BUYING FARMS AND FARMLAND FOR THE PURPOSE OF FARMING;
   (B) AN ITEMIZED LIST OF ALL  FARMING  RELATED  EDUCATION  AND  SUPPORT
 PROGRAMS  IN PLACE AT PUBLIC AND PRIVATE INSTITUTIONS OF HIGHER LEARNING
 IN THE STATE;
   (C) A LIST OF STATE SUPPORTED ECONOMIC DEVELOPMENT FUNDING FOR FARMING
 AND FOR SUSTAINING FARMING;
   (D) A LIST OF ORGANIZATIONS WITHIN THE STATE AND IN  ADJOINING  STATES
 THAT AUCTION AND SELL FARMING EQUIPMENT AND FARMING SUPPLIES;
   (E) A LIST OF ALL LABOR LAWS GOVERNING FARM LABOR; AND
   (F)  A  LIST OF INSURANCE AND FINANCIAL SERVICES REGULATIONS IMPACTING
 THE SALE AND PURCHASING OF FARMS AND FARMLAND.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05645-01-3
              

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