HB 2468

Abstract

Creates the Farmland Conservancy Program Act. Creates the Farmland Conservancy Program Fund in the State treasury. Provides that the moneys in the fund shall, upon appropriation by the General Assembly, be used for the purposes of the program, which include the purchase of agricultural conservation easements, fee title acquisition grants, land improvement and planning grants, technical assistance grants, technical assistance provided by the Department of Agriculture, technology transfer activities of the Department, and administrative costs incurred by the Department in administering the program. Provides that not less than 25% of funds shall be provided to applicants that lease or sell to socially disadvantaged farmers. Provides that moneys in the fund shall also be available for the following purposes: (1) to provide technical assistance grants to eligible assistance entities in support of socially disadvantaged farmers who are seeking financing for land acquisition or leasing; (2) to provide acquisition assistance grants to eligible assistance entities for the sole purpose of reducing barriers to land access for socially disadvantaged farmers, including, but not limited to, down payment assistance, interest rate assistance, direct costs incidental to acquisition, and infrastructure for land improvement; (3) to provide technical assistance grants to eligible assistance entities in support of socially disadvantaged farmers who are seeking financing for land acquisition or leasing; and (4) to provide acquisition assistance grants to eligible assistance entities for the sole purpose of reducing barriers to land access for socially disadvantaged farmers, including, but not limited to, down payment assistance, interest rate assistance, direct costs incidental to acquisition, and infrastructure for land improvement. Amends the State Finance Act to make a conforming change.