SP0119, LD 304, item 1, An Act To Support Marketing of Maine's Farms and Fisheries

An Act To Support Marketing of Maine's Farms and Fisheries

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 7 MRSA §436-B is enacted to read:

§ 436-B. Competitive grants for business planning and feasibility studies

An agricultural enterprise may receive grant funding from the accrued interest in the cash balance of the Agricultural Marketing Loan Fund, as established in Title 10, section 1023-J, for the purposes of developing a business plan or conducting a feasibility study for new infrastructure projects in accordance with this section.

1. Eligibility. The commissioner may authorize through the use of a competitive process the release of grant funds to an applicant for the purposes of developing a business plan or conducting a feasibility study for a new infrastructure project if the commissioner determines that:

A. The new infrastructure project described in the application has merit;

B. The new infrastructure project is designed to support the operation of an agricultural enterprise under the provisions of this subchapter and Title 10, section 1023-J; and

C. The business plan for the new infrastructure project is inadequate or the application does not include a business plan.

2. Limitations. The amount of funds released for the purposes of developing a business plan or feasibility study under subsection 1 may not exceed 50% of the cost of developing the business plan or conducting the feasibility study.

summary

This bill allows the accrued interest in the Agricultural Marketing Loan Fund to be used for competitive grants that would fund feasibility studies or business planning for new infrastructure projects that would support the operation of an agricultural enterprise.

SP0119 LD 304	Session - 127th Maine Legislature		LR 1144 Item 1
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