The bill amends section 4.1-01.1-07 of the North Dakota Century Code to enhance the Agriculture Diversification and Development Fund. It establishes a continuing appropriation for the fund, which will consist of legislative transfers, interest, and loan repayments. The fund is designated for loan disbursements and administrative costs managed by the Bank of North Dakota, as well as grants administered by the agriculture commissioner. The bill specifies that loans and grants will support new or expanding value-added agriculture businesses, which include various types of food and commodity processing facilities, and outlines the roles of the Bank and the agriculture diversification and development committee in managing these funds.

Additionally, the bill introduces a provision allowing the agriculture diversification and development committee to allocate up to five percent of the fund's available resources for administrative expenses related to the agriculture infrastructure grant program every odd-numbered year. It also appropriates $25 million from the general fund for the biennium starting July 1, 2025, with up to $10 million earmarked for agriculture infrastructure grants to political subdivisions. This funding aims to bolster the state's agricultural economy by supporting infrastructure improvements and enhancing the viability of agriculture-related businesses.

Statutes affected:
INTRODUCED: 4.1-01.1-07