Minnesota SF1517 appropriates $50 million from bond proceeds to the Rural Finance Authority for agricultural loans and programs.
Minnesota SF1517 allocates $50 million from bond proceeds to the Rural Finance Authority for various agricultural loan programs, including the beginning farmer program, loan restructuring, and seller-sponsored loans. The bill also appropriates $50,000 for bond sale expenses. The Rural Finance Authority must repay all debt service on the bond proceeds. Loan priority is given to basic beginning farmer loans, followed by seller-sponsored loans, and then agricultural improvement loans.
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