AN ACT to amend and reenact sections 4.1-01.1-07 and 4.1-01.1-08 of the North Dakota Century Code, relating to uses of the agriculture diversification and development fund and committee; to provide an appropriation; and to provide for a transfer.
What changed between versions
Created a new $15,000,000 appropriation from the general fund to be transferred to the Agriculture Diversification and Development Fund for the biennium beginning July 1, 2025, and ending June 30, 2027.
Established eligibility criteria for loans, interest rate buydowns, and grants to support new or expanding value-added agriculture businesses that demonstrate financial feasibility, enhance profitability, create jobs, and grow the state's economy.
Reorganized the Agriculture Diversification and Development Committee structure, specifying eleven members with clear appointment processes by the commissioner, governor, and other stakeholders, including representatives from independent community banks and the North Dakota bankers association.
Changed administrative expense allocation from a fixed five percent cap to committee designation of available funds for administrative costs, including committee member reimbursement for travel and per diem.
Defined value-added agriculture businesses to include food production or processing facilities, feed or pet food processing facilities, commodity processing facilities, agriculture product manufacturers, and animal agriculture production facilities including swine, poultry, dairy, and feed lot production.
Set the fund's biennium period from July 1, 2025, to June 30, 2027, for the initial $15,000,000 appropriation transfer.
