The bill amends section 4.1-01.1-07 of the North Dakota Century Code to enhance the agriculture diversification and development fund by including provisions for a value-added agriculture facility incentive program. The fund will now allocate resources for grants and incentive funding specifically aimed at supporting new or expanding value-added agriculture businesses. The agriculture diversification and development committee is tasked with designating the amount available for loans, grants, and the new value-added agriculture facility incentive funding. The bill outlines eligibility criteria for grant awards, which include requirements for capital investment, location, and economic contribution.

Additionally, the bill establishes a structured grant program for value-added agriculture production facilities, with a funding limit of thirty million dollars. To qualify for these grants, facilities must meet specific criteria, such as being located in the state, having significant capital investment, and producing new agricultural products. The grant funding will reimburse costs associated with infrastructure and capital expenditures necessary for construction. The agriculture commissioner is responsible for distributing the grant funds upon meeting certain milestones, and the bill also includes a provision for requesting a transfer from the strategic investment and improvements fund to support the approved grant amounts.

Statutes affected:
INTRODUCED: 4.1-01.1-07
Adopted by the House Agriculture Committee: 4.1-01.1-07
FIRST ENGROSSMENT: 4.1-01.1-07