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SF 4399

as introduced - 92nd Legislature (2021 - 2022) Posted on 06/22/2022 02:04pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18 1.19 1.20 1.21 2.1 2.2
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A bill for an act
relating to agriculture; establishing a farm down payment assistance program;
appropriating money; proposing coding for new law in Minnesota Statutes, chapter
17.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [17.133] FARM DOWN PAYMENT ASSISTANCE GRANTS.
new text end

new text begin Subdivision 1. new text end

new text begin Definitions. new text end

new text begin (a) For purposes of this section, the following terms have
the meanings given.
new text end

new text begin (b) "Eligible farmer" means an individual who at the time that the grant is awarded:
new text end

new text begin (1) is a resident of Minnesota who intends to acquire farmland located within the state
and provide the majority of the day-to-day physical labor and management of the farm;
new text end

new text begin (2) grosses no more than $250,000 per year from the sale of farm products; and
new text end

new text begin (3) has not, and whose spouse has not, at any time had a direct or indirect ownership
interest in farmland.
new text end

new text begin (c) "Farm down payment" means an initial, partial payment required by a lender or seller
to purchase farmland.
new text end

new text begin Subd. 2. new text end

new text begin Grants. new text end

new text begin The commissioner must award farm down payment assistance grants
of up to $15,000 per eligible farmer. An eligible farmer must match the grant with at least
an equivalent amount of other funding. An eligible farmer must commit to own and farm
the land purchased with assistance provided under this section for at least five years. For
each year that a grant recipient does not own and farm the land during the five-year period,
the grant recipient must pay a penalty to the commissioner equal to 20 percent of the grant
amount.
new text end

Sec. 2. new text begin APPROPRIATION.
new text end

new text begin $3,000,000 in fiscal year 2023 is appropriated from the general fund to the commissioner
of agriculture to award and administer grants under section 1.
new text end