SF1209
Rural Finance Authority bond issuance and appropriation
Legislative Session 94 (2025-2026)
Related bill: HF770
AI Generated Summary
Senate Bill S.F. No. 1209 is a legislative proposal concerning state funding for agricultural purposes in Minnesota. The bill outlines the appropriation of $30,000,000 from the state's bond proceeds fund to the Rural Finance Authority. This money is intended for various loan programs directed at farmers, including support for new farmers, loan restructuring, seller-sponsored loans, agricultural improvements, and livestock expansion and modernization.
Additionally, the bill allows for the sale and issuance of state bonds up to the amount of $50,050,000 to finance the appropriated funds. The costs associated with issuing these bonds are also covered by an appropriation from the bond proceeds fund.
This measure is designed to support the state's agricultural sector by providing financial assistance and investment, thereby helping farmers upgrade their operations and manage their financial obligations more effectively.
Past committee meetings
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Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 10, 2025 | Senate | Action | Introduction and first reading | ||
| February 10, 2025 | Senate | Action | Referred to | Capital Investment | |
| May 09, 2025 | Senate | Action | Comm report: To pass as amended and re-refer to | Finance | |
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Meeting documents
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Citations
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Progress through the legislative process
Sponsors
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