Bill > S04755

This bill establishes the Farm Ownership Succession Planning Program (FOSPP), a comprehensive initiative designed to support farm owners who are planning to sell or close their farms. The program, to be launched by August 2026, will create a toolkit that provides resources for both current farm owners and prospective farmers, including information on financial resources, farming-related education programs, economic development funding, farming equipment resources, labor laws, and insurance regulations. The FOSSP will develop statewide forums, both live and virtual, to connect farmers looking to sell their farms with potential buyers and will provide detailed economic information about the farming sector, including data on farm bankruptcies, farmer debt, and trends in different farming sub-segments like dairy, vegetable, and fruit farming. Additionally, the bill mandates the creation of a diversity-focused advisory task force to ensure the program reaches prospective farmers from protected classes in New York, with representatives from the agriculture, economic development, and financial services departments. The goal is to facilitate farm ownership transitions, support agricultural entrepreneurs, and maintain the economic viability of the state's farming sector.

Agriculture and Natural Resources, Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S4755