Sets out findings and the purpose of the act related to the loss of land farmed by small and socially disadvantaged farmers and a drop in the number of those farmers.

Enacts new Article 61B, Small and Socially Disadvantaged Farmers Grant Program (Grant Program), in GS Chapter 106. Sets out and defines terms used in the Article, including the following. Defines an eligible individual as a State resident who is at least 21 years old, is a small farmer or socially disadvantaged farmer, and has an annual income from farming operations for the preceding taxable year of at least $1,000 or more. Defines a small farmer as one with a gross cash farm income of $250,000 or less. Defines a socially disadvantaged farmer as one who is a member of a socially disadvantaged group (group of people whose members have been subject to racial or ethnic prejudice because of their identity as a member a group without regard to their individual qualities).

Establishes the Grant Program within the Department of Agriculture and Consumer Services (DACS) which will provide grants from the new Socially Disadvantaged Farmer Restoration Fund (Fund). Grants are for essential inputs, equipment, and operation improvements of the eligible individual’s farming operations. Sets out grant restrictions and procedures, with funding priorities and amounts set by the Commissioner of Agriculture and Consumer Services. Requires the establishment of an advisory committee to monitor the Grant Program. Requires DACS to adopt rules to carry out the Article.

Appropriates $10 million in recurring funds for 2024-25 from the General Fund to DACS, to be allocated to the Grant Program. Allows DACS to retain up to 3% of the funds for administrative costs.

Effective July 1, 2024.