BILL NUMBER: S4755
SPONSOR: BAILEY
 
TITLE OF BILL:
An act to amend the agriculture and markets law, in relation to estab-
lishing the farm ownership succession planning program (FOSPP)
 
PURPOSE OR GENERAL IDEA OF BILL:
To establish a farm ownership succession program and provide resources
to assist current farmers who are planning on retiring, selling, or
ending their farming operations to ensure that such operations continue
with new owners. The program is also charged with outreach to minority
communities to help increase the number of minority farmer owners in New
York State.
 
SUMMARY OF SPECIFIC PROVISIONS:
The bill amends the Agriculture and Markets Laws to create the Farm
Ownership Succession Planning Program (FOSPP) within the department of
agriculture and markets and in conjunction with the department of
economic development and the department of financial services. The bill
outlines a list of resources (a "toolkit") to be made available to farm
owners to assist them in securing new farm ownership and lists other
resources that can help prospective farm owners. The bill requires the
department of economic development and the department of financial
services to also make resources available to both farm owners and
prospective buyers. The bill establishes a multistate marketing effort
to increase the pool of prospective buyers and establishes a diversity
in farming and farm ownership succession planning advisory task force to
ensure the FOSPP is reaching out to a diverse group of prospective farm-
ers and farming entrepreneurs. The bill sets deadlines for specific
actions, including dates for selection of members of the advisory task
force and for submission of the required outreach plan under FOSPP.
 
JUSTIFICATION:
Major demographic changes are impacting every sector of the American
economy, including farming. Small family-owned and family-operated farms
have been dealing with the impact of interstate and global competition.
As farmers prepare for retirement, it is important for New York State to
put in place a farm-ownership succession program to help farmers sell
off their farms, farmlands, and farming assets. Establishing the farm-
owner succession planning program (FOSPP) will provide a wealth of
information on state programs that are in place to help New York farmers
with the sale of their operations.
The FOSPP acknowledges the changing demographics of our state and
nation. To ensure that minority populations can compete for farming
opportunities and become farmers, the FOSPP puts in place an outreach
plan designed for this purpose. Out of more than 56,000 farms in New
York State, less than 800 are owned by Latino, Black, Asian, and Native
Americans. This legislation seeks to compile the list of all the
resources available to farmers and related regulations into a toolkit
that will help farmers and prospective farmers understand their options,
risks, and opportunities.
A strong farm-ownership succession planning program will help farmers
sell their assets in a manner that will hopefully ensure that the farm-
ing and agricultural center becomes more representative of the popu-
lation of our state.
 
FISCAL IMPLICATIONS:
None.
 
PRIOR LEGISLATIVE HISTORY:
2021-22: Referred to Agriculture
2023-24: Passed Senate
 
EFFECTIVE DATE:
Immediately.