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MN HF2595

Bill

Official Source

Status

Introduced

4/18/2017

Primary Sponsor

Paul H. Anderson

Click for details

Origin

House of Representatives

90th Legislature 2017-2018

AI Summary

  • Rural Finance Authority shall establish a methane digester loan program to finance purchase of equipment and construction or improvement of systems that utilize manure to produce electricity
  • State participation in participation loans is limited to 45 percent of the principal amount, with direct loans or loan participations not exceeding $250,000
  • Loans under the program may be used as a match for federal loans or grants
  • Borrowers who have previously received a methane digester loan may receive another loan if the previous loan has been repaid in full
  • Eligible borrowers must be Minnesota residents or entities not prohibited from owning agricultural land under Minnesota Statutes section 500.24

Legislative Description

Rural Finance Authority authorized to issue or participate in more than one methane digester loan to a farmer.

Last Action

Author added Johnson, B.

4/20/2017

Committee Referrals

Agriculture Policy4/18/2017

Full Bill Text

No bill text available