HI SB1204

Establishes an agriculture accelerator program authorizing the agribusiness development corporation to provide grants to and invest in farming, aquaculture, and ranching businesses in return for 1-6% equity stakes, with board approval required.

Grant funds may be used for purchasing equipment, improving energy efficiency, constructing processing and packaging facilities, food safety training, acquiring branding and marketing support, or other board-approved purposes.

Creates an agriculture accelerator special fund to finance the program, funded by appropriations, grants, donations, interest earnings, and a portion of the environmental response, energy, and food security tax per barrel.

Amends the environmental response, energy, and food security tax structure under section 243-3.5 to direct a portion of the per-barrel tax to the new agriculture accelerator special fund (specific amount left blank in bill text).

Effective date: July 1, 2050.