Farm equipment grant program; create.

Added a restriction that grant recipients cannot apply for or receive grant funds in successive calendar years.

Added provisions that unexpended amounts and investment earnings in the Farm Equipment Grant Fund shall not lapse into the State General Fund but remain in the fund.

Modified the tax code to clarify that sales tax revenue collected from farm tractors, parts, and labor shall be deposited into the Farm Equipment Grant Fund.

Modified the application requirements to explicitly require documentation verifying the applicant is a farmer, including a copy of their most recent federal income tax Schedule F.

Added administrative provisions requiring the department to promulgate rules and regulations in accordance with the Mississippi Administrative Procedures Law.