(a)(1) The Corporation may receive annual funding through an appropriation in the
(2) The Corporation may also receive money for projects included in the budgets of
(3)(i) To assist the Corporation in complying with subsection (c) of this section,
the Governor shall include each year in the State budget bill an appropriation to
the Corporation for rural business development and assistance as follows:
1. for fiscal year 2021, $2,875,000; and
2. for each of the fiscal years 2022 through 2025, $2,735,000.
(ii) In addition to any money provided under subparagraph (i) of this paragraph, the
Governor may include each year in the State budget bill an appropriation to the Corporation
in an amount not exceeding $5,000,000 for rural land acquisition and easement programs,
including programs to assist young and beginning farmers.
(b)(1) The funds appropriated to the Corporation under subsection (a)(3)(i)2 of this
section shall be used to support the Corporation's rural business loan programs and
small matching grant programs.
(2) All unexpended and unencumbered money appropriated to the Corporation shall remain
with the Corporation for future use.
(c) The Corporation shall conduct its financial affairs so that, by fiscal year 2026,
it is self-sufficient and in no further need of general operating support by the State.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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