S 1879 New Jersey Senate · 2024-2025 Regular Session

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
Photo of Parker Space
Parker Space
RRepublican
NJ
24