The bill establishes the Agriculture and Fishery Vulnerability Preparedness Grant Fund, which will be administered by the commissioner of the department of agricultural resources in consultation with the commissioner of the department of fish and game. This fund will be credited with revenue from appropriations, interest earned, and contributions from public and private sources. The purpose of the fund is to support farms and fisheries in Massachusetts in planning and implementing climate change adaptation and resiliency initiatives. The fund will provide grants for various activities, including controlled climate growing, energy efficiency, and infrastructure needs to enhance climate resilience.

Additionally, the bill outlines the process for administering the fund, including the establishment of technical assistance for applicants and the requirement for the commissioner to file quarterly reports detailing grant applicants, recipients, and financial information. The commissioner is also tasked with promulgating rules and regulations for the fund's administration, which must be reviewed by the joint committee on agriculture and fisheries prior to implementation. The provisions of this act will take effect immediately upon passage.