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SF 2594 Senate Long Description

E Requiring and providing for the rural finance authority to establish and implement a methane digester loan program to finance systems using manure to produce electricity; establishing a revolving fund for the deposit of loan repayments and appropriating money in the fund to the commissioner of agriculture for the manure digester loan program; specifying borrower eligibility requirements and providing for RFA direct loans or loan participation, specifying interest rate and loan amortization limits and security requirements; authorizing the RFA to impose an application fee, setting the initial fee, requiring crediting of fees received to the revolving fund; specifying certain loan criteria; transferring the remaining balance in the shared savings loan program revolving account dedicated to manure digester loans to the new revolving fund and requiring the deposit of future receipts from manure digester and disaster recovery loans in the revolving fund; authorizing the commissioner to participate in a zero interest loan to the university of Minnesota for purchase of a methane digester, specifying a loan limit (je, ja)