The bill establishes the Farmers' Crop Loss Reimbursement Grant Program within the Department of Agriculture (DoAg) to provide financial assistance to Connecticut farmers who experience crop losses due to significant acute weather events. The program will be governed by parameters set by DoAg, which will include eligibility criteria, prioritization rules for fund allocation, maximum reimbursement amounts, and the specific weather events that qualify for reimbursement. Additionally, the bill mandates that DoAg must act on reimbursement applications within 60 days of receipt.

To fund this program, the bill authorizes the issuance of up to $10 million in state general obligation bonds, which will be used by DoAg for the reimbursement process. The bonds will follow standard issuance procedures and repayment requirements, ensuring that the state’s full faith and credit back the bonds. The effective date for the implementation of this program and the bond issuance is set for July 1, 2025.