An Act To Authorize A General Fund Bond Issue To Support Maine'S Agricultural Sector, To Create An Agricultural Buildings Property Tax Exemption And To Direct The Department Of Agriculture, Conservation And Forestry To Study Barriers To Its Financial Assistance Programs And Study The Potential For A Common Application For Those Programs

LD 1739 authorizes a $55.6 million general fund bond issue to support Maine's agricultural sector. It allocates funds to specific programs: $25 million for the Maine Agriculture, Food and Forest Products Investment Fund, $5 million for an agricultural buildings property tax exemption (exempting qualifying structures from property taxes for 10 years), $5 million for the Business Recovery and Resilience Fund's agricultural subaccount, and $600,000 to create a common application for financial assistance programs. The bill also directs the Department of Agriculture to study barriers to its existing programs. The bond issue requires voter approval in a statewide election, with the question asking if residents support the $55.6 million bond for Maine's agricultural sector.