MI HB4563

Amends the state treasurer's authority to invest surplus state funds in financial institutions that make qualified agricultural loans, with interest rates tied to actual agricultural loan performance.

Establishes three categories of qualified agricultural loans: disaster relief loans to farmers (up to $150,000), production loss loans to farm operators (up to $200,000), and loans to agricultural businesses experiencing commodity or sales volume losses (up to $300,000 per facility, $400,000 per entity).

Requires financial institutions to make qualified agricultural loans within 90 days of receiving state investment or face retroactive interest rate increases; principal repayment can be deferred up to 24 months.

Authorizes state treasurer to invest up to $30 million in participating financial institutions for qualified agricultural loans, with not more than $10 million allocated to agricultural business loans.

Takes effect only if House Bill 4561 is enacted into law; becomes effective April 25, 2018.