La. Admin. Code tit. 7 § III-509

Current through Register Vol. 50, No. 11, November 20, 2024

Section III-509 - Use of Grant Proceeds

A. Grant proceeds may be used to pay current year working capital expenses that are related to the preparation, planting, management and harvesting the current year crop including, but limited to feed, bait, seed, fertilizer, fuel, chemicals, herbicides, crawfish traps, office supplies, insurance, utilities, labor/payroll, veterinarian services and supplies, custom harvester, custom aerial applicator, and written land leases for crawfish producers.

B. Grant proceeds may not be used for any of the following:

1. acquisition of buildings or land;

2. new construction or reconstruction;

3. repayment or refinancing loans;

4. payments of tax arrearages, government fines or penalties;

5. political or religious activities;

6. buying out any stockholder or equity holder in a business;

7. buying out or reimbursing any family member;

8. investing in instruments or investments for the sole purpose of a return on investment;

9. a loss or expense for which insurance benefits has been or will be paid or financial assistance that has been or will be provided from federal, state or any other source;

10. purchasing or repairing of equipment;

11. placing new land into production.

La. Admin. Code tit. 7, § III-509

Promulgated by the Department of Agriculture and Forestry, Agricultural Finance Authority, LR 44439 (3/1/2018).

AUTHORITY NOTE: Promulgated in accordance with R.S. 3:266.