H.B. 1179

VETOES

(3) THE CORPORATION MAY FURTHER DEFINE OR LIMIT THE TERM
"REVENUE" AS APPLIED TO A PARTICULAR PROJECT, FINANCING, OR OTHER MATTER

13-602. 13-502.

THE GENERAL ASSEMBLY FINDS THAT:

(1)      THE STATE'S AGRICULTURAL AND RESOURCE-BASED INDUSTRIES
CONTINUE TO UNDERPIN THE LOCAL ECONOMIES OF RURAL COMMUNITIES, BUT
ARE INCREASINGLY UNDER THREAT FROM NATIONAL AND INTERNATIONAL MARKET
COMPETITION, URBAN ENCROACHMENT AND LAND DEVELOPMENT PRESSURE, AND
ENVIRONMENTAL AND REGULATORY INFLUENCES;

(2)      THE CONSTRUCTION AND RENOVATION OF FOOD AND FIBER
PROCESSING AND SECONDARY MANUFACTURING FACILITIES OFTEN REQUIRE
CREDIT AND CAPITAL IN AMOUNTS THAT FAR EXCEED THE AVAILABLE RESOURCES
OF INDIVIDUAL SMALL PRODUCERS AND SMALL BUSINESSES;

(3)      PRIVATE ENTERPRISE AND EXISTING FEDERAL AND STATE
GOVERNMENTAL PROGRAMS HAVE NOT ADEQUATELY ADDRESSED AGRICULTURAL
INDUSTRY SUPPORT OR DEVELOPMENTAL OPPORTUNITIES RELATING TO EMERGENT
VALUE-ADDED AGRICULTURAL PROCESSING ACTIVITIES, NEW OR ALTERNATIVE
MARKETS DEVELOPMENT, PRIMARY AND SECONDARY MANUFACTURING,
ASSISTANCE FOR BEGINNING FARMERS AND PRODUCERS, AND FINANCIAL SUPPORT
FOR ENVIRONMENTAL OR TECHNOLOGICAL ENHANCEMENTS;

(4)      WHILE SOME TRADITIONAL AGRICULTURAL ENTERPRISES IN THE
STATE MAY HAVE ACCESS TO MARKETS, CAPITAL, AND CREDIT, OTHER EXISTING OR
EMERGING SEGMENTS OF THE AGRICULTURAL INDUSTRY LACK MARKET ACCESS,
CAPITAL, AND CREDIT AVAILABLE FOR INVESTMENT IN AGRICULTURE, FOR
DOMESTIC AND EXPORT PURPOSES, AND AT INTEREST RATES WITHIN THE
FINANCIAL MEANS OF PERSONS ENGAGED IN AGRICULTURAL PRODUCTION AND
AGRICULTURAL EXPORTS;

(5)      IN CONJUNCTION WITH THE FINANCIAL AND OTHER CHALLENGES
ASSOCIATED WITH TRADITIONAL AGRICULTURAL INDUSTRY, THERE IS A NEED TO
PROVIDE ECONOMIC AND MARKET DEVELOPMENT ASSISTANCE TO THOSE
INDIVIDUALS WHO WISH TO START, CONVERT, OR DIVERSIFY THEIR AGRICULTURAL
OPERATIONS, OR TO MAKE IMPROVEMENTS ASSOCIATED WITH ENVIRONMENTAL
REGULATIONS AND POTENTIAL MARKET OPPORTUNITIES; AND

(6)      IT IS A MATTER OF SIGNIFICANT RURAL ECONOMIC DEVELOPMENT
IMPORTANCE THAT THE MARYLAND AGRICULTURAL AND RESOURCE-BASED
INDUSTRY DEVELOPMENT CORPORATION BE CREATED AND AUTHORIZED TO:

(I)      DEVELOP AGRICULTURAL INDUSTRIES AND MARKETS;

(II)     SUPPORT        APPROPRIATE        COMMERCIALIZATION        OF
AGRICULTURAL PROCESSES AND TECHNOLOGY; AND

(III)   ALLEVIATE THE SHORTAGE OF NONTRADITIONAL CAPITAL AND
CREDIT AVAILABLE AT AFFORDABLE INTEREST RATES FOR:

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