Requires NJEDA to establish loan program to assist beginning farmers in financing capital purchases.

This bill (S 1717) would create a loan program administered by New Jersey’s Economic Development Authority (NJEDA) to help beginning farmers purchase farming capital. Beginning farmers - defined as low- or moderate-income individuals new to farming - could use these loans to buy agricultural land, farm buildings, or equipment like tractors. To qualify, applicants must be New Jersey residents, have farming experience, and plan to actively operate the land or equipment within the state. The program requires NJEDA to set eligibility rules, including income thresholds based on USDA data, and will operate alongside federal farm programs.