HB 1541 Summary

• Expands eligible agricultural businesses to include those engaged in alternative agricultural products, veterinary practices (30% large animal services, max $250,000 loan), at-risk farms/ranches, and healthy corner stores certified by the Oklahoma Department of Agriculture, Food, and Forestry.

• Explicitly excludes medical marijuana growing operations from the definition of alternative agricultural products.

• Increases maximum linked deposit amounts: alternative agricultural products up to $1,000,000, at-risk farm/ranch operations up to $1,000,000, and healthy corner stores up to $350,000 per loan.

• Raises the total cap for all linked deposit program investments from $225,000,000 to $500,000,000 or 15% of average quarterly investable state funds, whichever is lesser.

• Takes effect July 1, 2025, with an emergency declaration allowing immediate implementation upon passage and approval.