People’s Deputies pass a law on support for young farmers

The Verkhovna Rada passed a law on stimulating the farms of farmers under the age of 35 (Draft Law №464046).

The information department of the Verkhovna Rada reported this.

It is noted that the law regulates the composition of land plots of farms, as well as determines the range of recipients of state support through the Ukrainian State Fund for Support of Farms.

Also, some concepts regarding the definition of the type of farm are clarified, the Rada adds.

In addition, state support for a farmer under the age of 35 (inclusive) has been introduced.

The Rada states that this "will enable rural youth to implement their entrepreneurial initiatives and help stop the migration of young people from rural areas."

According to the law, newly established farms in the period of formation (the first 3 years after its establishment), farms, in particular with separate farmhouses, family farms, farms engaged in economic activities and located in mountain settlements, in Polissia territories, determined in the prescribed manner by the Cabinet, are provided assistance from the state budget.

Including through the Ukrainian state fund of support of farms, also the help can be provided at the expense of means of local budgets.

It is noted that the Cabinet of Ministers annually provides funds to support farms in the draft state budget.

According to the law, local executive bodies and local self-government bodies may provide funds for the support of farms in the draft local budgets every year.

At the same time, a farm whose head is under the age of 35 (inclusive) is provided with financial assistance at the expense of the state budget in the amount and in the manner approved by the government.