FL S1804

Transfers administration of the Agricultural Economic Development Program from the Department of Agriculture and Consumer Services to the Division of Emergency Management within the Executive Office of the Governor and renames it the Agricultural Economic Development and Disaster Loans Program.

Increases maximum loan limit from $300,000 to $500,000, removes the $30,000 minimum loan limit, and eliminates the 300-acre production limit for eligibility.

Establishes zero-interest loans with closing costs capped at 1 percent of the loan amount, which may be paid directly or financed as part of the loan.

Adds specific loan limits per federal employer identification number for timber ($500/acre), cotton ($275/acre), and peanuts ($125/acre).

Extends application deadline from 90 days to 1 year after a disaster event, removes farm plan and financial management training requirements, and allows loan term extensions of 1-5 additional years for borrowers affected by subsequent disasters.