HF199

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.