NC H718

Appropriates $5,150,000 from the General Fund to the Department of Agriculture and Consumer Services for grants to farmers and farming entities with unpaid invoices to N. G. Purvis Farms, Inc. resulting from the company's bankruptcy filing on May 7, 2021.

Grants may not exceed the amount of unpaid invoices minus any remuneration already received through bankruptcy proceedings or other means.

Department must develop an application process within three months of the effective date, with applications due by January 1, 2024; late applications will not be accepted.

Department may use up to 3% of appropriated funds for administrative costs, with remaining funds after grant distribution reverting to the General Fund.

Department must report to the Joint Legislative Oversight Committee on Agriculture and Natural and Economic Resources and the Fiscal Research Division by April 1, 2024, on fund distribution; act becomes effective July 1, 2023.