This bill amends section 4.1-01.1-07 of the North Dakota Century Code to establish a value-added milk processing facility incentive program within the agriculture diversification and development fund. The new provisions include the creation of a program that provides grants for the construction or expansion of value-added milk processing facilities that can process at least three million pounds of milk annually. The grant funding is capped at the lesser of five million dollars or five percent of the total construction cost and is intended to reimburse costs related to infrastructure and capital expenditures necessary for the facility's construction.

Additionally, the bill authorizes the agriculture commissioner to borrow up to $5,000,000 through a line of credit from the Bank of North Dakota to support this program during the biennium from July 1, 2025, to June 30, 2027. The interest rate for this line of credit will be the prevailing rate charged to North Dakota governmental entities, and if utilized, the agriculture commissioner must seek a deficiency appropriation from the next legislative assembly to repay the borrowed amount.

Statutes affected:
INTRODUCED: 4.1-01.1-07
Prepared by the Legislative Council staff for Senator Dwyer: 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
Enrollment: 4.1-01.1-07