SB 2687

This bill creates a fund within the state treasury to be known as the Tennessee agriculture recovery and investment in family farm (TARIFF) relief fund ("fund"") . The fund consists of grants, appropriations by the general assembly, and any other moneys made available to the department of agriculture (""department"") from any other source. It is the legislative intent that the fund also consists of $130 million to be transferred from the balance of the revenue fluctuation reserve in fiscal year 2026-2027. Subject to appropriations and the availability of funds, this bill requires the department to use the fund to provide grants in the amount of up to $10, 000 to residents of this state who own or lease land in this state that is principally used as a farm ("" family farme r"") who, on or after April 1, 2025, have been struggling with high input costs and market losses as a result of tariffs on agricultural products, equipment, and machinery, including retaliatory and reciprocal tariffs, whether imposed by the fe deral government or foreign countries. The department must develop and publish an application form for family farmers to apply for grant funds, which must require a demonstration of need. The department must also establish grant eligibility requirements and award procedures. ""FARM"" DEFINED As used in this bill, a ""farm"" means a tract of land of at least 15 acres constituting a farm unit engaged in the production of growing crops, plants, animals, or nursery or floral products that produced gross agricultural income averaging at least $1, 500 per year over the three-year period immediately preceding the date of a grant application under this bill . AUDIT This bill provides that the fund is subject to examination and audit by the comptroller of the treasury. FALSE CLAIMS VIOLATIONS If a person filing a claim or invoice for a grant or grant funds knowingly makes a false, fictitious, or fraudulent statement or representation, or knowingly submits false, fictitious, or fraudulent documentation or information to the department, then this bill provides that such person is liable under the False Claims Act . RULEMAKING This bill authorizes rules to be promulgated in order to ensure the funds are received and expended for the purposes consistent with this bill."