Current through 2024 Legislative Session Act Chapter 531
Section 805 - [See Note] Premium Subsidy and Eligibility Requirements(a) Any eligible producer who has already purchased or who shall purchase, prior to the appropriate sales closing date, a qualifying policy in excess of the catastrophic risk protection level of coverage, shall be eligible to receive a State subsidy of up to 30% of the eligible producers' premium cost, up to a maximum of $10.00 per acre, under this Program.(b) The subsidy under this Program is subject to appropriation by the General Assembly and is only for covered commodities during the policy coverage period.(c) In order to participate in this Program, the eligible producer must comply with all the requirements of this Program, as established by the Department.Added by Laws 2023, ch. 318,s 1, eff. .Section 2 of the 2024 enacting legislation provides that this section takes effect on the date of publication in the Register of Regulations of a notice by the Controller General that funds are appropriated to implement the Act. The Controller General shall provide notice to the Registrar of Regulations that funds were appropriated.