Minnesota HF199 appropriates $50 million to the Rural Finance Authority for agricultural loans and authorizes bond issuance.

Minnesota HF199 allocates $50 million from the bond proceeds fund to the Rural Finance Authority for agricultural loans. The funds will support the beginning farmer program, loan restructuring, seller-sponsored loans, and agricultural improvement loans. The commissioner of management and budget is directed to sell and issue bonds to finance this appropriation. All debt service on these bonds must be repaid by the Rural Finance Authority. Loan participations must be priced to cover full interest, principal, and potential losses.

Minnesota HF199 appropriates $50 million to the Rural Finance Authority for agricultural loans and authorizes bond issuance.

Minnesota HF199 allocates $50 million from the bond proceeds fund to the Rural Finance Authority for agricultural loans. The funds will support the beginning farmer program, loan restructuring, seller-sponsored loans, and agricultural improvement loans. The commissioner of management and budget is directed to sell and issue bonds to finance this appropriation. All debt service on these bonds must be repaid by the Rural Finance Authority. Loan participations must be priced to cover full interest, principal, and potential losses.