Minneslate Logo

SF1753 (Legislative Session 94 (2025-2026))

Agriculture best management practices loan program transferal

Related bill: HF1920

AI Generated Summary

Purpose

To provide funding for the Agriculture Best Management Practices (BMP) Loan Program by transferring money from the General Fund to a dedicated loan account. This supports low-interest or no-interest loans to help farmers and others adopt BMPs in the state.

Main Provisions

  • Transfers: $1,425,000 in fiscal year 2026 and $1,425,000 in fiscal year 2027 will be moved from the General Fund to the Agricultural and Environmental Revolving Loan Account in the Special Revenue Fund.
  • Use of funds: The money is for low-interest or no-interest loans issued through the Agriculture Best Management Practices Loan Program.
  • Legal basis: This transfer is made under Minnesota Statutes section 17.117, subdivision 5a.
  • Baseline future transfers: The base amount for future transfers is $1,425,000 in fiscal year 2028 and each year after.

Implications and Impact

  • Creates ongoing funding for BMP loans starting in 2028, increasing the available support for BMP adoption.
  • Strengthens the BMP loan program by providing more capital for favorable loan terms.

Relationship to Existing Law

  • Funds go to the Agricultural and Environmental Revolving Loan Account within the Special Revenue Fund, sourced from the General Fund.
  • Uses are tied to the BMP loan program authorized under Minnesota Statutes section 17.117.

Significance

  • Aims to promote agricultural environmental stewardship by making BMPs more affordable through low- or no-interest loans.

Relevant Terms agriculture best management practices loan program Agricultural and Environmental Revolving Loan Account Special Revenue Fund General Fund low-interest loans no-interest loans Minnesota Statutes section 17.117 fiscal year 2026 fiscal year 2027 fiscal year 2028

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
February 24, 2025SenateActionIntroduction and first reading
February 24, 2025SenateActionReferred toAgriculture, Veterans, Broadband, and Rural Development
SenateActionSee

Citations

 
[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Transfers funds within Minn. Stat. § 17.117 to the Agricultural and Environmental Revolving Loan Account (Special Revenue Fund) for low-interest or no-interest loans issued through the Agriculture Best Management Practices Loan Program, as referenced in subdivision 5a.",
      "modified": [
        "Establishes the transfer base at $1,425,000 in fiscal year 2026 and $1,425,000 in fiscal year 2027, with the base for fiscal year 2028 and each year thereafter."
      ]
    },
    "citation": "17.117",
    "subdivision": "5a"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "References Minn. Stat. § 17.117 generally in connection with the Agriculture Best Management Practices Loan Program funding.",
      "modified": []
    },
    "citation": "17.117",
    "subdivision": ""
  }
]

Progress through the legislative process

17%
In Committee

Sponsors

Loading…