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HF199 (Legislative Session 94 (2025-2026))

Rural Finance Authority funding provided, bonds issued, and money appropriated.

Related bill: SF1517

AI Generated Summary

This legislative bill aims to support farmers in Minnesota by allocating financial aid and resources. It involves:

  1. Appropriating $50,000,000 from the bond proceeds fund to the Rural Finance Authority. This money will be used to support various agricultural loan programs aimed at new and existing farmers, which include loans for starting farmers, restructuring existing loans, seller-sponsored loans, agricultural improvements, and livestock expansion/modernization.

  2. Allocating $50,000 from the bond proceeds fund to cover expenses related to the sale of state bonds.

  3. Authorizing the Minnesota Commissioner of Management and Budget to issue and sell state bonds up to $50,050,000 to fund these appropriations.

These actions are structured to promote agricultural development and aid farmers, especially those who are starting or expanding their farming operations. The Rural Finance Authority will manage these funds, ensuring they are used efficiently to support the farming community in Minnesota.

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
February 09, 2025HouseFloorActionIntroduction and first reading, referred toCapital Investment

Citations

 
[
  {
    "analysis": {
      "added": [
        "Includes financial provisions for loans and fund management."
      ],
      "removed": [],
      "summary": "This bill appropriates funds for the beginning farmer program under section 41B.039.",
      "modified": []
    },
    "citation": "41B.039"
  },
  {
    "analysis": {
      "added": [
        "Allocated funds for debt restructuring support for farmers."
      ],
      "removed": [],
      "summary": "This bill provides funding for the loan restructuring program under section 41B.04.",
      "modified": []
    },
    "citation": "41B.04"
  },
  {
    "analysis": {
      "added": [
        "Explicit financial integration for seller-supported initiatives."
      ],
      "removed": [],
      "summary": "This bill allocates money for the sellersponsored program under section 41B.042.",
      "modified": []
    },
    "citation": "41B.042"
  },
  {
    "analysis": {
      "added": [
        "Funds designated for agricultural enhancements and improvements."
      ],
      "removed": [],
      "summary": "Appropriation for the agricultural improvement loan program under section 41B.043.",
      "modified": []
    },
    "citation": "41B.043"
  },
  {
    "analysis": {
      "added": [
        "Financial resources for livestock facility advancements."
      ],
      "removed": [],
      "summary": "Funding is provided for the livestock expansion and modernization loan program under section 41B.045.",
      "modified": []
    },
    "citation": "41B.045"
  },
  {
    "analysis": {
      "added": [
        "Mandates repayment procedures for bonded fund allocations."
      ],
      "removed": [],
      "summary": "The Rural Finance Authority must repay all debt service on bond proceeds in accordance with section 16A.643.",
      "modified": []
    },
    "citation": "16A.643"
  },
  {
    "analysis": {
      "added": [
        "Administrative costs for managing bond issuance covered."
      ],
      "removed": [],
      "summary": "Appropriation for bond sale expenses in line with section 16A.641 subdivision 8.",
      "modified": []
    },
    "citation": "16A.641 subdiv. 8"
  },
  {
    "analysis": {
      "added": [
        "Procedures for the sale and management of state bonds outlined."
      ],
      "removed": [],
      "summary": "Provisions for bond sale and issuance as guided by sections 16A.631 to 16A.675.",
      "modified": []
    },
    "citation": "16A.631 to 16A.675"
  }
]

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