MN HF1278

Minnesota Agricultural and Economic Development Board may guarantee or participate in loans for individual farmers eligible to own farmland to purchase, expand, or operate farms of 80 acres or less producing certified organic agricultural resources.

Eligible loans cover purchase of land, equipment, seed, or other inputs used for organic production as defined in Minnesota Statutes section 31.92, subdivision 3a.

Board may also guarantee or participate in loans to agricultural cooperatives incorporated under chapter 308A or 308B for construction or expansion of projects that acquire and process certified organic agricultural resources.

$10,000,000 appropriated in fiscal year 2016 from the general fund to the commissioner of employment and economic development to implement the program.