NC S379

Authorizes economic development incentive programs to use funds supporting new and expanded natural gas service for agricultural projects that expand production or processing capabilities.

Allows incentive funds to pay for excess infrastructure costs incurred by natural gas companies to provide service to eligible agricultural projects, or cost-effective alternatives that reduce those costs.

Permits incentive funds for propane gas service to agricultural projects including conversion of equipment to propane use, provision of propane-powered equipment, and establishment of dispensing stations.

Limits total incentive funds for all eligible projects to $5,000,000 per biennium, with Department of Commerce responsible for tracking payments and notifying program managers when the limit is reached.

Requires agricultural project owners receiving incentive funds to maintain business operations for at least five years or reimburse the funds received.