HF 3739 Summary

• Appropriates $880,000 in fiscal year 2020 from the general fund to the commissioner of agriculture for grants covering loan origination fees for eligible farmers

• Eligible farmers must have total net worth less than $800,000 in calendar year 2020 and be either in farm debt restructuring mediation proceedings or have received a mediation notice under Minnesota Statutes chapter 583

• Grant amounts equal the actual loan origination fee required to obtain USDA Farm Service Agency guaranteed loans or Rural Finance Authority program loans

• Commissioner must prioritize grants first to farmers currently in mediation and second to those who have received a mediation notice

• Funding is one-time and available until June 30, 2023, with up to 10 percent of appropriated funds available for program administration