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OK HB1541
Bill
Status
5/14/2025
Primary Sponsor
Kenton Patzkowsky
Click for details
AI Summary
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Increases the maximum linked deposit for at-risk farm or ranch operations from $350,000 to $1,000,000, while keeping the healthy corner store limit at $350,000
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Raises the total amount the State Treasurer may invest in all linked deposit programs from $225 million to $500 million (or 15% of investable funds, whichever is lesser)
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Removes the requirement that at-risk farms/ranches develop management plans through OSU's IFMAPS program or the Oklahoma Department of Career and Technology Education to qualify
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Allows the State Board of Agriculture to designate authority to review loan packages, and removes the requirement that the Board make recommendations within 10 business days
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Effective date of July 1, 2025, with emergency clause for immediate effect upon passage
Legislative Description
Agriculture Linked Deposits Program; definitions; procedures; deposit amounts; effective date; emergency.
Last Action
Becomes law without Governor's signature 05/14/2025
5/14/2025