Louisiana Administrative Code
Title 7 - AGRICULTURE AND ANIMALS
Part III - Agricultural Finance
Chapter 5 - 2016 Louisiana Farm Recovery Grant Program
Section III-509 - Use of Grant Proceeds

Universal Citation: LA Admin Code III-509

Current through Register Vol. 50, No. 9, September 20, 2024

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.

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

Disclaimer: These regulations may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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