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OK HB3015
Bill
Status
4/19/2010
Primary Sponsor
Eddie Fields
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AI Summary
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Amends the Oklahoma Agricultural Linked Deposit Act by modifying definitions of "eligible agricultural business" to include healthy corner stores certified by the Oklahoma Department of Agriculture, Food, and Forestry.
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Defines "healthy corner store" as a grocery store that markets locally grown fresh fruits and vegetables, has beer and tobacco sales constituting less than 10% of gross sales (excluding gasoline and nongrocery items), and is located in an underserved geographical area.
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Limits agricultural linked deposits to a maximum of $1,000,000 for alternative agricultural products and $350,000 for at-risk farm or ranch operations and healthy corner stores.
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Requires the State Treasurer and State Board of Agriculture to review and approve agricultural linked deposit loan packages, with the Board providing written recommendations within 10 business days.
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Becomes effective July 1, 2010, with emergency clause allowing immediate enactment upon passage and approval.
Legislative Description
Agricultural linked deposits; Oklahoma Agricultural Linked Deposit Act; modifying healthy stores definitions. Effective date. Emergency.
Agriculture
Last Action
Approved by Governor 04/16/2010
4/19/2010