SC H3183

Establishes the "Young Farmer Loan Program" administered by the South Carolina Conservation Bank to help young farmers purchase agricultural land

Eligible applicants must be 18-40 years old, South Carolina residents, have at least 3 years farming experience, and a net worth of no more than $300,000

Maximum loan amount is $500,000 per recipient, capped at 70% of the appraised easement value of the farmland, with loans bearing no interest and repayment within 30 years

Purchased farmland must contain at least 15 tillable acres, be zoned for agricultural use, and the borrower must place a permanent preservation easement on the property as a condition of the loan

Preservation easements run with the land in perpetuity, prohibit residential use, and require the borrower to remain actively engaged in agricultural use during the loan term