MN SF3374

Authorizes the Minnesota Agricultural and Economic Development Board to guarantee or participate in loans for organic agriculture under existing loan programs (sections 41A.03 and 41A.035)

Eligible borrowers include individuals eligible to own farmland under section 500.24 seeking to purchase, expand, or operate farms of 80 acres or less for certified organic production, with loans covering land, equipment, seed, or other organic production inputs

Eligible borrowers also include cooperatives incorporated under chapters 308A or 308B seeking to construct or expand agricultural resource projects that acquire and process certified organic agricultural resources

Appropriates $2,000,000 in fiscal year 2017 from the general fund to the commissioner of employment and economic development to implement the program