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NY S04082
Bill
Status
11/21/2022
Primary Sponsor
Michelle Hinchey
Click for details
AI Summary
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Removes the two-year application deadline after college graduation and replaces it with a requirement that applicants have produced an "agricultural product" for no more than ten consecutive years.
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Increases the maximum number of annual awards from ten to twenty-five awards per year.
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Increases the maximum annual award amount from ten thousand dollars to twenty thousand dollars per applicant.
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Increases the total maximum award over a five-year period from fifty thousand dollars to one hundred thousand dollars per applicant.
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Modifies priority criteria to give second priority to applicants who can demonstrate economic need and did not receive an award during a previous application period, instead of specifically referencing the first year of program operation.
Legislative Description
Relates to eligibility under the New York state young farmers loan forgiveness incentive program; expands program to farmers who have produced agricultural products for no more than ten years.
Last Action
SIGNED CHAP.620
11/21/2022