Section 16-w - Beginning farmers NY fund1. 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-toone 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.N.Y. Urban Development Corporation Act Law § 16-w
Amended by New York Laws 2016, ch. 58,Sec. W-1, eff. 4/12/2016.Amended by New York Laws 2015, ch. 58,Sec. FF-1, eff. 4/13/2015.Added by New York Laws 2014, ch. 55,Sec. Z-1, eff. 9/27/2014.