HI SB993

Expands the definition of "new farmer" to include graduates of farm trainee programs in addition to existing categories like college graduates in agriculture and displaced agricultural workers.

Creates a new "farm innovation loan" program (Class F) with maximum loan amounts of $75,000 for qualified farmers to conduct practical research in crop development, innovative production techniques, and new crop production.

Establishes a new "biosecurity project loan" program (Class I) with maximum loan amounts of $1,000,000 (or 85% of project cost) for livestock and poultry operations to implement disease and pest prevention measures.

Reduces credit denial requirements for new farmer loans of $100,000 or less for farm trainees and recent college graduates with agriculture degrees (from two denials to none required).

Effective date of July 1, 2050.