Signed by Governor Kelly Armstrong

Vote Smart's Synopsis:

Vote to concur with Senate amendments and pass a bill that appropriates $30 million for a state agriculture incentive program in North Dakota.

Highlights:

• Authorizes the agricultural diversification and development committee to develop a value-added agriculture production facility incentive program to provide grants. (Sec. 1).

• Limits the grant award funding for the value-added agriculture production facility incentive program to $30 million (Sec. 1).

• Specifies that for a production facility to be eligible for the grant it must (Sec. 1):

• Be located within the state;

• Be a new construction project on an industrial-ready site with access to existing municipal infrastructure;

• Have capital investment of at least three hundred fifty million dollars and leverage regional agricultural producer capital investment to support the facility's operations;

• Have a competing offer from at least one other midwestern state;

• Produce a new agriculture product or variant of an existing agriculture product to provide a domestic supply of the product and to diversify the market for agriculture products; and

• Have an estimated economic contribution of at least twenty million dollars when fully operational based on an economic analysis conducted by the Bank.

• Specifies that grant funding under this program is reimbursement for infrastructure, site acquisition, or other capital expenditures necessary for the value-added agriculture facility construction, including natural gas supply, electricity supply, roads, water lines, wastewater lines, stormwater conveyance, or rail lines (Sec. 1).

• Specifies that upon issuance of a certificate of occupancy for the value-added agriculture production facility, the agriculture commissioner shall distribute a grant equal to 50% of the total grant award from funding available in the agriculture diversification and development fund (Sec. 1).

• Specifies the other 50% of the grant award shall be distributed once 50% of the production capacity of the value-added agriculture production facility is achieved. (Sec. 1).

• Authorizes the Bank of North Dakota to extend a line of credit of up to $30 million to the agriculture commissioner to support a grant from the fund under this subsection, and the interest rate associated with it must be the prevailing interest rate charged to North Dakota governmental entities (Sec. 1).

• Authorizes the agriculture commissioner to access the line of credit under this subsection through June 30, 2029 (Sec. 1).

Full Bill Text

Vote Smart's Synopsis:

Vote to reconsider, amend, and pass a bill that appropriates $30 million for a state agriculture incentive program in North Dakota.

Highlights:

• Authorizes the agricultural diversification and development committee to develop a value-added agriculture production facility incentive program to provide grants. (Sec. 1).

• Limits the grant award funding for the value-added agriculture production facility incentive program to $30 million (Sec. 1).

• Specifies that for a production facility to be eligible for the grant it must (Sec. 1):

• Be located within the state;

• Be a new construction project on an industrial-ready site with access to existing municipal infrastructure;

• Have capital investment of at least three hundred fifty million dollars and leverage regional agricultural producer capital investment to support the facility's operations;

• Have a competing offer from at least one other midwestern state;

• Produce a new agriculture product or variant of an existing agriculture product to provide a domestic supply of the product and to diversify the market for agriculture products; and

• Have an estimated economic contribution of at least twenty million dollars when fully operational based on an economic analysis conducted by the Bank.

• Specifies that grant funding under this program is reimbursement for infrastructure, site acquisition, or other capital expenditures necessary for the value-added agriculture facility construction, including natural gas supply, electricity supply, roads, water lines, wastewater lines, stormwater conveyance, or rail lines (Sec. 1).

• Specifies that upon issuance of a certificate of occupancy for the value-added agriculture production facility, the agriculture commissioner shall distribute a grant equal to 50% of the total grant award from funding available in the agriculture diversification and development fund (Sec. 1).

• Specifies the other 50% of the grant award shall be distributed once 50% of the production capacity of the value-added agriculture production facility is achieved. (Sec. 1).

• Authorizes the Bank of North Dakota to extend a line of credit of up to $30 million to the agriculture commissioner to support a grant from the fund under this subsection, and the interest rate associated with it must be the prevailing interest rate charged to North Dakota governmental entities (Sec. 1).

• Authorizes the agriculture commissioner to access the line of credit under this subsection through June 30, 2029 (Sec. 1).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that appropriates $30 million for a state agriculture incentive program in North Dakota.

Highlights:

• Authorizes the agricultural diversification and development committee to develop a value-added agriculture production facility incentive program to provide grants. (Sec. 1).

• Limits the grant award funding for the value-added agriculture production facility incentive program to $30 million (Sec. 1).

• Specifies that for a production facility to be eligible for the grant it must (Sec. 1):

• Be located within the state;

• Be a new construction project on an industrial-ready site with access to existing municipal infrastructure;

• Have capital investment of at least three hundred fifty million dollars and leverage regional agricultural producer capital investment to support the facility's operations;

• Have a competing offer from at least one other midwestern state;

• Produce a new agriculture product or variant of an existing agriculture product to provide a domestic supply of the product and to diversify the market for agriculture products; and

• Have an estimated economic contribution of at least twenty million dollars when fully operational based on an economic analysis conducted by the Bank.

• Specifies that grant funding under this program is reimbursement for infrastructure, site acquisition, or other capital expenditures necessary for the value-added agriculture facility construction, including natural gas supply, electricity supply, roads, water lines, wastewater lines, stormwater conveyance, or rail lines (Sec. 1).

• Specifies that upon issuance of a certificate of occupancy for the value-added agriculture production facility, the agriculture commissioner shall distribute a grant equal to 50% of the total grant award from funding available in the agriculture diversification and development fund (Sec. 1).

• Specifies the other 50% of the grant award shall be distributed once 50% of the production capacity of the value-added agriculture production facility is achieved. (Sec. 1).

• Authorizes the Bank of North Dakota to extend a line of credit of up to $30 million to the agriculture commissioner to support a grant from the fund under this subsection, and the interest rate associated with it must be the prevailing interest rate charged to North Dakota governmental entities (Sec. 1).

• Authorizes the agriculture commissioner to access the line of credit under this subsection through June 30, 2029 (Sec. 1).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that appropriates $30 million for a state agriculture incentive program in North Dakota.

Highlights:

• Authorizes the agricultural diversification and development committee to develop a value-added agriculture production facility incentive program to provide grants. (Sec. 1).

• Limits the grant award funding for the value-added agriculture production facility incentive program to $30 million (Sec. 1).

• Specifies that for a production facility to be eligible for the grant it must (Sec. 1):

• Be located within the state;

• Be a new construction project on an industrial-ready site with access to existing municipal infrastructure;

• Have capital investment of at least three hundred fifty million dollars and leverage regional agricultural producer capital investment to support the facility's operations;

• Have a competing offer from at least one other midwestern state;

• Produce a new agriculture product or variant of an existing agriculture product to provide a domestic supply of the product and to diversify the market for agriculture products; and

• Have an estimated economic contribution of at least twenty million dollars when fully operational based on an economic analysis conducted by the Bank.

• Specifies that grant funding under this program is reimbursement for infrastructure, site acquisition, or other capital expenditures necessary for the value-added agriculture facility construction, including natural gas supply, electricity supply, roads, water lines, wastewater lines, stormwater conveyance, or rail lines (Sec. 1).

• Specifies that upon issuance of a certificate of occupancy for the value-added agriculture production facility, the agriculture commissioner shall distribute a grant equal to 50% of the total grant award from funding available in the agriculture diversification and development fund (Sec. 1).

• Specifies the other 50% of the grant award shall be distributed once 50% of the production capacity of the value-added agriculture production facility is achieved. (Sec. 1).

• Authorizes the Bank of North Dakota to extend a line of credit of up to $30 million to the agriculture commissioner to support a grant from the fund under this subsection, and the interest rate associated with it must be the prevailing interest rate charged to North Dakota governmental entities (Sec. 1).

• Authorizes the agriculture commissioner to access the line of credit under this subsection through June 30, 2029 (Sec. 1).

Full Bill Text