Requires NJEDA to establish "Value-added Agriculture Loan Program" to assist farmers in developing value-added products.
S 1879 establishes a "Value-added Agriculture Loan Program" through New Jersey's Economic Development Authority (NJEDA) to help eligible farmers develop processed or enhanced agricultural products. The program offers loans of $5,000-$10,000 for planning (like feasibility studies) or working capital (such as processing, marketing, or inventory costs) related to creating value-added products - like turning raw crops into packaged goods or specialty items. To qualify, farmers must be NJ residents, use the loan for NJ-based farming operations, actively participate in farming, and use funds strictly for approved value-added activities. The NJEDA will administer the program with input from the Department of Agriculture, setting loan terms and requiring financial reviews to ensure borrower viability.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024
Last action Jan 9, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
1
Key actions
0
Committee
0
Jan 9, 2024
Introduced
Introduced in the Senate, Referred to Senate Economic Growth Committee
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Parker Space
RRepublican
Ask Maddy
·
AI policy assistant
Ask Maddy about S 1879
Scope: NJ
Hi! I can help you understand S 1879. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline