This bill amends and reenacts section 4.1-01.1-07 of the North Dakota Century Code to enhance the agriculture diversification and development fund by introducing a value-added agriculture facility incentive program. The fund will now include provisions for grants specifically aimed at supporting new or expanding value-added agriculture businesses, which are defined to include various types of food and commodity processing facilities. The agriculture diversification and development committee will be responsible for designating the amount available for loans and grants, and the bill specifies that the fund will be continuously appropriated to the Bank of North Dakota and the agriculture commissioner for administrative costs and funding purposes.

Additionally, the bill establishes a new grant program with a funding limit of thirty million dollars for value-added agriculture production facilities. To qualify for these grants, production facilities must meet specific criteria, including being located in North Dakota, having a significant capital investment, and producing new agricultural products. The bill outlines the reimbursement process for infrastructure and capital expenditures necessary for facility construction and includes provisions for a line of credit from the Bank of North Dakota to support grant funding. The act is set to expire on June 30, 2029, and is declared an emergency measure.

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
Prepared by the Legislative Council staff for Representative Vigesaa: 4.1-01.1-07
SECOND ENGROSSMENT: 4.1-01.1-07
Prepared by the Legislative Council staff for Representative Hagert: 4.1-01.1-07
Enrollment: 4.1-01.1-07