SECTION 1. To provide for a program of fishing and farming investment, the sums set forth in sections 4, and 5, for the several purposes and subject to the conditions specified in this act, are hereby made available, subject to the laws regulating the disbursement of public funds. The sums made available in this act shall be in addition to any amounts previously appropriated or made available for these purposes.

SECTION 2. Chapter 10 of the General Laws as appearing in the 2016 Official Edition is hereby amended by inserting after section 35DDD the following section:-

Section XXX. (a) There shall be established and set up on the books of the commonwealth a separate fund to be known as the Fishing Innovation Fund, whose purpose shall be to finance grants for permit banks, the design, construction and modification of commercial fishing vessels; including but not limited to research, development and construction of innovative fishing vessels with attributes including but not limited to increased fuel efficiency, reduced carbon emissions, improved stability, and the capability of supporting sustainable fishing practices through harvesting and on-board storage and processing methods, research, development, acquisition and deployment of advanced and/or innovative technologies including but not limited to sonar, radar, radio communications, satellite and global position and other locating and tracking devices; the research and development, acquisition and deployment of safety equipment and technologies provided, that any such grants may be conditioned on a vessel or guarantor or other reasonable condition remaining active in commercial fishing in the commonwealth, landing or processing fish in the commonwealth, and/or maintaining permits or licenses to do so without regard or preference to any particular geographic location or region of the commonwealth; provided that grants shall be distributed in a manner developed by the advisory committee established under clause (b) of this section.

Amounts shall be credited to the fund pursuant to line item 2300-0100, provided that the fund may be supplemented through appropriation from the general fund or other available sources including but not limited to any interest earned on monies in the fund; any funds from private sources including, but not limited to, gifts, grants and donations received by the commonwealth that are specifically designated to be credited to the fund, provided further that the department of fish and game shall also seek to the fullest extent any federal monies, any federal monies, matching funds, and grants.

The state treasurer shall deposit the moneys in the fund in accordance with section 34 of chapter 29 in a manner that will secure the highest interest available consistent with the safety of the fund and with the requirement that all amounts on deposit shall be available for immediate withdrawal at all times. The fund shall be expended at the direction of the Commissioner of the Department of Fish and Game in consultation with the advisory committee established in clause (b) of this section, subject to approval by the secretary of administration and finance only for the purposes stated in this section and any unexpended balances in the fund at the end of the fiscal year shall not revert and shall be available for expenditures in the subsequent fiscal year.

(b) There shall be an advisory committee to be appointed by the governor consisting of 13 members including the director of the division of marine fisheries who shall serve as chair; 2 of whom with academic and/or research experience in fishing and the marine economy and 10 members from geographically diverse regions of the commonwealth, with at least one from each of these gear types: mobile gear such as trawls, hooks, gillnets, and traps.

The advisory committee shall file a report detailing the amount, types, and nature of grants made and impacts of such grants, said report shall be submitted to the clerks of the house and senate no later than September 30 of each calendar year. 

The advisory committee shall annually hold at least one public hearing to receive public testimony to inform its efforts in developing and deploying grant programs.

SECTION 3. Chapter 10 of the General Laws as appearing in the 2016 Official Edition is hereby amended by inserting after section 35DDD the following section:-

Section XXX. There shall be established and set up on the books of the commonwealth a separate fund to be known as the Agricultural Innovation Fund, whose purpose shall be to finance grants for the commonwealth’s agricultural and cranberry producers through the Agricultural Innovation Center that may add value to the producers products and services; provided further that the Agricultural Innovation Center shall develop an outreach program to identify and foster new, innovative ideas and approaches to adding value to the commonwealth’s agricultural and cranberry economy; and provided further that the Agricultural Innovation Center may solicit requests from the commonwealth’s agricultural and cranberry industry for funding and technical assistance in reclamation and revitalization of cranberry bogs; training, marketing, distribution, applied research, agri-tourism, aquaculture, forestry, processing, fiber and agricultural resource management research, development, poultry and red meat processing and construction of energy efficient agricultural buildings and structures; research, development and construction of energy efficient agricultural equipment; provided further that grants shall be administered in a manner developed by the advisory committee established under clause (b) of this section.

Amounts shall be credited to the fund pursuant to line item 2511-2000, provided that the fund may be supplemented through appropriation from the general fund or other available sources including but not limited to any interest earned on monies in the fund; any funds from private sources including, but not limited to, gifts, grants and donations received by the commonwealth that are specifically designated to be credited to the fund, provided further that the department of fish and game shall also seek to the fullest extent any federal monies, matching funds, and grants.

The state treasurer shall deposit the moneys in the fund in accordance with section 34 of chapter 29 in a manner that will secure the highest interest available consistent with the safety of the fund and with the requirement that all amounts on deposit shall be available for immediate withdrawal at all times. The fund shall be expended at the direction of the commissioner of the department of agricultural resources in consultation with the secretary of energy and environmental affairs and the advisory committee established under clause (b) in this section, subject to approval by the secretary of administration and finance only for the purposes stated in this section and any unexpended balances in the fund at the end of the fiscal year shall not revert and shall be available for expenditures in the subsequent fiscal year.

(b) There shall be an advisory committee to be appointed by the governor consisting of 13 members including the commissioner of the department of agricultural resources who shall serve as chair; 2 of whom with academic and/or research experience in the agriculture and cranberry economy and 10 members of geographically diverse regions of the commonwealth, with at least one from the following sectors: horticulture, cranberry growing, dairy farming, raising livestock, and raising crops. The Agricultural Innovation Center shall consult with the advisory committee in matters related to the fund and in the implementation of this section.

The advisory committee shall file a report detailing the amount, types, and nature of grants made and impacts of such grants, said report shall be submitted to the clerks of the house and senate no later than September 30 of each calendar year.

The advisory committee shall annually hold at least one public hearing to receive public testimony to inform its efforts in developing and deploying grant programs.

SECTION 4. 

Department of Fish and Game

2300-0100. For grants administered through the fishing innovation fund established under section 2 of this act; provided further, that not more than $25,000,000 per fiscal year shall be made available for grants under this item……………….$25,000,000

SECTION 5.

Executive Office of Energy and Environmental Affairs

2511-2000. For grants administered through the agricultural innovation fund established under section 3 of this act; provided further, that not more than $25,000,000 per fiscal year shall be made available for grants under this item ………………..$25,000,000

SECTION 6. To meet the expenditures necessary in carrying out section 4, the state treasurer shall, upon request of the governor, issue and sell bonds of the commonwealth in an amount to be specified by the governor from time to time but not exceeding, in the aggregate, $25,000,000. All bonds issued by the commonwealth as aforesaid shall be designated on their face, Fishing and Farming Investment Act of 2017, and shall be issued for a maximum term of years, not exceeding 10 years, as the governor herein recommends to the general court under section 3 of Article LXII of the Amendments to the Constitution; provided, however, that all such bonds shall be payable not later than June 30, 2042. All interest and payments on account of principal on these obligations shall be payable from the General Fund. Notwithstanding any other general or special law to the contrary, bonds issued under this section and interest thereon shall be general obligations of the commonwealth.

SECTION 7. To meet the expenditures necessary in carrying out section 5, the state treasurer shall, upon request of the governor, issue and sell bonds of the commonwealth in an amount to be specified by the governor from time to time but not exceeding, in the aggregate, $25,000,000. All bonds issued by the commonwealth as aforesaid shall be designated on their face, Fishing and Farming Investment Act of 2017, and shall be issued for a maximum term of years, not exceeding 10 years, as the governor herein recommends to the general court under section 3 of Article LXII of the Amendments to the Constitution; provided, however, that all such bonds shall be payable not later than June 30, 2042. All interest and payments on account of principal on these obligations shall be payable from the General Fund. Notwithstanding any other general or special law to the contrary, bonds issued under this section and interest thereon shall be general obligations of the commonwealth.