|BILL AS INTRODUCED||2007-2008|
Introduced by Representative Johnson of Canaan
Subject: Agriculture; farm income protection; milk revenue protection
Statement of purpose: This bill proposes to establish a grant program that will help dairy farmers take advantage of the federal Milk Revenue Insurance Product.
AN ACT RELATING TO MILK REVENUE PROTECTION
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. PURPOSE
The state of Pennsylvania under the federal Agricultural Risk Protection Act of 2000 codified at 7 U.S.C. § 1508(h) has proposed a multi-state Milk Revenue Insurance Product that would insure against income loss in the dairy industry. Vermont will greatly benefit if this proposal is accepted and implemented. In order to make the most efficient use of this product, should it go into effect, the Vermont milk revenue protection program is designed to generate investment in the Milk Revenue Insurance Product.
Sec. 2. MILK REVENUE PROTECTION GRANT PROGRAM
(a) The secretary shall establish a milk revenue protection grant program to encourage investment in the federal Milk Revenue Insurance Product authorized by 7 U.S.C. § 1508(h). The milk revenue protection grant program shall:
(1) Advertise and educate dairy farmers about the existence of the Milk Revenue Insurance Product and the milk revenue protection grant program.
(2) Assist in applications for the Milk Revenue Insurance Product.
(3) Award grants that will assist in paying the premiums associated with the Milk Revenue Insurance Product by contributing to all or any portion of the unsubsidized premium. Grants shall only be awarded in years following a year in which the average price of milk was below $15.50 per hundredweight.
(b) An appropriation of $150,000.00 from the general fund shall be made in fiscal year 2008 to a special fund in the agency of agriculture, food and markets for the purposes of administering the grant program established in this section of this act (milk revenue protection grant program).
Sec. 3. EFFECTIVE DATE
This act shall become effective upon federal implementation of the Milk Revenue Insurance Product.
The Vermont General Assembly
115 State Street