HI HB681

Establishes a linked investment program to provide agricultural loans through partnerships between the state and eligible lending institutions

Authorizes the director of finance to commit no more than $5,000,000 from available state treasury funds to create certificates of deposit with eligible lenders

Eligible borrowers must be engaged in agriculture as defined in state law and submit a viable agricultural business plan, as certified by participating lending institutions

Individual loans cannot exceed a specified amount and cannot be used to purchase real property; certificates of deposit earn market-rate interest with no early withdrawal penalties and mature within one year with options for five additional one-year renewals

Appropriates funds to the department of budget and finance to hire one full-time position to administer the program, effective July 1, 2050