348.408. Agricultural product utilization grant fund established--limitation on grants. - Missouri Statutes

Agricultural product utilization grant fund established--limitationon grants.

348.408. 1. There is hereby established in the state treasury the"Agricultural Product Utilization Grant Fund". The fund shall consist ofmoney appropriated to it by the general assembly and investment income onthe fund. Notwithstanding the provisions of section 33.080, RSMo, noportion of the fund shall be transferred to the general revenue fund.

2. The fund shall be administered by the authority.

3. The general assembly may appropriate moneys not to exceed threemillion dollars annually. In any given year, at least ten percent of theappropriation shall be awarded to grant requests of twenty-five thousanddollars or less. No single rural agricultural business concept shallreceive more than two hundred thousand dollars in grant awards from theauthority.

4. Moneys in the fund may be invested by the state treasurer, and anyincome therefrom shall be deposited to the credit of the fund.

(L. 1997 H.B. 557, A.L. 1999 H.B. 888)

Effective 7-2-99