H.F. 3050 - Rural Finance Authority Capital Investment

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

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

• Authorizes the commissioner of management and budget to sell and issue state bonds up to $35,000,000 to provide the appropriated funds.

• Requires the Rural Finance Authority to repay all debt service on bond proceeds under Minnesota Statutes section 16A.643, with loan participations priced to cover full interest and principal plus loss reserves.

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