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 designate the amount available for loans and grants, and the Bank of North Dakota will manage the loan disbursements and administrative costs associated with the fund.

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 allows the agriculture commissioner to access a line of credit to support grant funding until June 30, 2029. The act is declared an emergency measure and will expire on the same date.

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