The reformulation of a multi-billion-dollar tobacco settlement is boosting funds available for agricultural projects across the Commonwealth.
The Kentucky Agricultural Development Fund was previously allocated $28.4 million from the settlement. Governor’s Office of Agricultural Policy Executive Director Warren Beeler said the reformulation of the settlement increases the $28.4 million fund to around $40 million over the next two years.
Beeler said this means a 40 percent increase in available funding for Kentucky counties. The state budget is diverting $13 million from the fund for agricultural improvements to state fairgrounds in Louisville.
