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SF1209 (Legislative Session 94 (2025-2026))

Rural Finance Authority bond issuance and appropriation

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.

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
February 09, 2025SenateFloorActionIntroduction and first reading
February 09, 2025SenateFloorActionReferred toCapital Investment

Citations

 
[
  {
    "analysis": {
      "added": [
        "Funding from bond proceeds for participation interests or direct agricultural loans."
      ],
      "removed": [],
      "summary": "This bill allocates funding for the beginning farmer program under section 41B.039.",
      "modified": []
    },
    "citation": "41B.039"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill provides financing for the loan restructuring program under section 41B.04.",
      "modified": []
    },
    "citation": "41B.04"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Funding is allocated for the sellersponsored program as per section 41B.042.",
      "modified": []
    },
    "citation": "41B.042"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill includes financial support for the agricultural improvement loan program outlined in section 41B.043.",
      "modified": []
    },
    "citation": "41B.043"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Support for the livestock expansion and modernization loan program is provided under section 41B.045.",
      "modified": []
    },
    "citation": "41B.045"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Debt service on bond proceeds is to be repaid under section 16A.643.",
      "modified": []
    },
    "citation": "16A.643"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Funding is directed towards bond sale expenses under section 16A.641 subdivision 8.",
      "modified": []
    },
    "citation": "16A.641"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "The bond sale and issuance of bonds are governed by sections 16A.631 to 16A.675.",
      "modified": []
    },
    "citation": "16A.631 to 16A.675"
  }
]

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