MN SF2702

Appropriates $35,000,000 from the bond proceeds fund to the Rural Finance Authority for agricultural loans to farmers under Minnesota Statutes chapter 41B.

Funds five specific loan programs: beginning farmer program, loan restructuring program, seller-sponsored program, agricultural improvement loan program, and livestock expansion loan program.

Establishes loan priority as: first to basic beginning farmer loans, second to seller-sponsored loans, and third to agricultural improvement loans.

Requires loan participations to be priced to provide full interest and principal coverage plus a reserve for potential losses, with all debt service repaid by the Rural Finance Authority.

Authorizes the commissioner of management and budget to sell and issue state bonds up to $35,000,000 to provide the appropriated funds, effective the day following final enactment.