GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1991

S	1 

SENATE BILL 301*

Short Title:  Agric. Finance Auth. Funds.	(Public)
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Sponsors: Senators Plyler, Conder, Martin of Pitt; and Walker.
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Referred to:  Appropriations.
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March 27, 1991

A BILL TO BE ENTITLED
AN ACT TO APPROPRIATE FUNDS TO RESTORE THE AGRICULTURAL FINANCE AUTHORITY BUDGET.
Whereas, the Agricultural Finance Authority has operated with annual one-time budget appropriations during the 1990-91 fiscal year to continue to provide services; and
Whereas, the Authority has made a number of loans during the 1989-91 biennium and currently has a backlog of applicants awaiting funding; and
Whereas, the Authority is providing a valuable service to certain farmers and agribusinesses who are unable to obtain credit at reasonable rates from other sources; Now, therefore,
The General Assembly of North Carolina enacts:
Section 1.  There is appropriated from the General Fund to the Department of Agriculture the sum of $215,804 for the 1991-92 fiscal year and the sum of $214,965 for the 1992-93 fiscal year for operation of the North Carolina Agricultural Finance Authority.  This appropriation shall become a part of the Department of Agriculture's continuation budget.
Sec. 2.  There is appropriated from the General Fund to the Department of Agriculture the sum of $204,627 for the 1991-92 fiscal year for the Reserve for Farm Loans of the North Carolina Agricultural Finance Authority, as a one-time appropriation.
Sec. 3.  This act becomes effective July 1, 1991.