NY A07037

Amends Agriculture and Markets Law to require the Department of Agriculture and Markets to cooperate with Empire State Development Corporation in developing a Small Farm Modernization Fund program to provide grants for farm modernization, infrastructure, equipment, crops, animals, and marketing.

Creates the Small Farm Modernization Fund within the Empire State Development Corporation to award grants to eligible farmers for modernizing farms and agricultural practices, with special focus on farms transitioning to new or beginning farmers.

Defines "small farm" as 150 acres or less and establishes grant award criteria including farmers who will materially participate in agricultural production, demonstrate innovative modernization plans that create jobs and tax revenue, and operate farms of 150 acres or less.

Limits individual grants to $25,000 per beneficiary, establishes a competitive application process, and allows the Corporation to accept funds from any source including state appropriations.

Requires annual reporting by December 31st to state budget director and legislative leaders on total funds committed, applicant locations, and other relevant information; allows repayment provisions if beneficiaries leave New York or cease farming within a Corporation-established timeframe.