As used in this article 1.2, unless the context otherwise requires:

1. (1) Agricultural processing means the transforming, packaging, sorting, storage, or grading of Colorado livestock, livestock products, agricultural commodities, plants, or plant products.
2. (2) Agriculture has the same meaning as set forth in section 35-1-102 (1).
3. (3) Commissioner means the commissioner of agriculture.
4. (4) Department means the department of agriculture created in section 35-1-103.

5. (5) Eligible business means a business that:

   1. (a) Earns or will earn a majority of its revenue from agricultural processing or from developing or manufacturing technology designed to benefit Colorado farmers and ranchers; and

   2. (b) In the judgment of the department:

      1. (I) Has managers and employees who possess sufficient education, training, and experience to operate the business; and
      2. (II) Provides an economic benefit to Colorado farmers or ranchers.

6. (6) Eligible farmer or rancher means an individual who:

   1. (a) Is at least eighteen years of age;
   2. (b) Is a resident of Colorado;
   3. (c) Is or will be an owner or operator in fact of a farm or ranch; and

   4. (d) In the judgment of the department:

      1. (I) Possesses sufficient education, training, and experience to operate the farm or ranch; and
      2. (II) Possesses or has access to sufficient working capital, farm machinery, livestock, or land to operate the farm or ranch.
7. (7) Farm-to-market infrastructure grant means a grant of money from the fund, which money is used for agricultural processing.

8. (8)

   1. (a) Farm-to-market infrastructure loan means a loan from the loan program, which loan is used for the purpose of agricultural processing or the development or manufacturing of technology designed to benefit Colorado farmers or ranchers.
   2. (b) (Deleted by amendment, L. 2023.)
9. (9) Financial entity means a bank, nondeposit community development financial institution, business development corporation, or other entity with agricultural lending experience and with which the department contracts to help administer the loan program.
10. (10) Fund means the Colorado agricultural future loan program cash fund created in section 35-1.2-105.
11. (11) Livestock has the same meaning as set forth in section 35-1-102 (6).
12. (12) Loan program means the Colorado agricultural future loan program created in section 35-1.2-103.

Source: L. 2021: Entire article added, (SB 21-248), ch. 374, p. 2471, § 1, effective June 29. L. 2022: (8) amended, (SB 22-212), ch. 421, p. 2984, § 80, effective August 10. L. 2023: (5)(a), (6)(c), and (8) amended, (SB 23-050), ch. 24, p. 86, § 1, effective August 7.