HI SB1060

Establishes a new Class I biosecurity loan program to help livestock and poultry farmers install disease prevention and biosecurity measures on their farms.

Defines "biosecurity" as systems and measures that protect livestock, poultry, and humans from diseases, pests, and pathogens and prevent disease-causing agents from entering, spreading, or leaving farm premises.

Class I loans capped at $1,000,000 or 85% of project cost (whichever is less) with terms up to 25 years for purchasing, constructing, or improving farm buildings and equipment related to biosecurity projects.

Interest rate on Class I loans set at 3% per year, making them the lowest-rate agricultural loans available under the program.

Updates existing agricultural loan statutes to extend loan program eligibility from Class F through the new Class I, allowing these loans to be insured, guaranteed, or participated in by the Department of Agriculture.