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MN HF199
Bill
Status
2/10/2025
Primary Sponsor
John Burkel
Click for details
AI Summary
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Appropriates $50,000,000 from bond proceeds to the Rural Finance Authority to purchase loan participation interests or make direct agricultural loans to farmers
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Funds five specific programs: beginning farmer program, loan restructuring program, seller-sponsored program, agricultural improvement loan program, and livestock expansion and modernization loan program
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Establishes loan priority order: basic beginning farmer loans first, seller-sponsored loans second, agricultural improvement loans third
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Appropriates $50,000 for bond sale expenses to the commissioner of management and budget
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Authorizes sale and issuance of state bonds up to $50,050,000, effective the day following final enactment
Legislative Description
Rural Finance Authority funding provided, bonds issued, and money appropriated.
Last Action
Introduction and first reading, referred to Capital Investment
2/10/2025