The bill establishes the Agriculture and Fishery Vulnerability Preparedness Grant Fund, which will be managed by the commissioner of the department of agricultural resources in collaboration with the commissioner of the department of fish and game. This fund will be financed through various sources, including appropriations from the general court, interest earned, and contributions from public and private entities. The funds will be dedicated to supporting farms and fisheries in Massachusetts as they develop and implement climate change adaptation and resiliency initiatives. The bill outlines the purposes for which the funds can be used, including controlled climate growing, energy efficiency, and infrastructure improvements to enhance climate resilience.

Additionally, the bill mandates the commissioner to create rules and regulations for the fund's administration and requires quarterly reporting to various legislative committees on grant applicants, recipients, and financial details. This reporting will ensure transparency and accountability in the use of the fund, detailing the sources and uses of funds, as well as the technical assistance provided to applicants. The provisions of this act will take effect immediately upon passage.