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ROBERT L. EHRLICH, JR., Governor Ch. 614
(1) A public corporation; and
(2) An instrumentality of the State.
(c) The purpose of the Corporation is to:
(1) Assist the viability of the State's diverse agricultural industry
through new markets development, capital and credit enhancements, and technical
and other assistance to support, create, and sustain agricultural businesses
throughout the State;
(2) Provide financing and other assistance for product development,
start-up and scale-up of Maryland food- and fiber-related growing and processing
operations, and for technological enhancements that benefit the environment and
water quality;
(3) Seek partnerships and leveraging opportunities with public and
private for-profit and not-for-profit entities in making capital and credit assistance
available to individual producers, producer cooperatives, and other agribusiness
concerns operating in the State;
(4) Facilitate and support access to high quality technical resources for
agricultural entrepreneurs by incorporating existing support infrastructure including
the development of strategic partnering opportunities and business incubation;
(5) Foster cross-industry communication and assist other organizations
in transferring to the private sector and commercializing the results and products of
scientific agricultural research and development conducted by the federal
government and colleges and universities; and
(6) Work with public and private lending and grant-making institutions
to:
(i) Make low- and no-interest loans and loan guarantees available
for agricultural product development, primary processing, and secondary
manufacturing;
(ii) Provide credit and capital to first-time farmers for land,
equipment, and working capital acquisition; and
(iii) Make incentives available for activities related to small farm or
small landowner viability and best management practices; AND
(IV) MAKE TEMPORARY LAND AND EASEMENT PURCHASES IN
ACCORDANCE WITH STATE OR LOCAL CRITICAL FARM ACQUISITION PROGRAMS.
(D) FOR FISCAL YEAR 2007 THROUGH FISCAL YEAR 2016, THE GOVERNOR
SHALL INCLUDE IN THE BUDGET BILL AN APPROPRIATION TO THE CORPORATION IN
AN AMOUNT EQUAL TO AT LEAST $4,500,000.
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- 3477 -
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