as introduced - 91st Legislature (2019 - 2020) Posted on 05/04/2020 05:19pm
A bill for an act
relating to agriculture; appropriating money for grants to farmers for certain loan
origination fees.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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(a) $880,000 in fiscal year 2020 is appropriated from the general fund to the commissioner
of agriculture for grants to eligible farmers who have been approved for farm debt
restructuring loans guaranteed by the United States Department of Agriculture (USDA),
Farm Service Agency or issued under a loan program administered by the Rural Finance
Authority. The commissioner must award an eligible farmer a grant in an amount equal to
the loan origination fee amount required for the farmer to obtain the USDA, Farm Service
Agency guaranteed loan or Rural Finance Authority program loan.
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(b) For purposes of this section, "eligible farmer" means an individual who regularly
participates in physical labor or operations management in the individual's farming operation
and files "Schedule F" as part of the person's annual Form 1040 filing with the United States
Internal Revenue Service or a family farm organized under Minnesota Statutes, section
500.24, if the individual or family farm:
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(1) has a total net worth of less than $800,000 in calendar year 2020; and
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(2) is either in mediation proceedings under Minnesota Statutes, chapter 583, or has
received a mediation notice under Minnesota Statutes, section 583.26, subdivision 1,
paragraph (a).
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(c) The commissioner must give first priority to grant applicants who are currently in
mediation under Minnesota Statutes, chapter 583, and must give second priority to grant
applicants who have received a mediation notice under Minnesota Statutes, section 583.26,
subdivision 1, paragraph (a).
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(d) The amount appropriated under this section is onetime and is available until June
30, 2023.
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(e) The commissioner may use up to ten percent of the amount appropriated under this
section to administer the grant program.
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This section is effective the day following final enactment.
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