Rural Finance Authority funding provided, bonds issued, and money appropriated.

This bill authorizes the state of Minnesota to issue up to $50.05 million in bonds to provide funding for the Rural Finance Authority, which supports farmers through various loan programs. The funds will be used for specific initiatives including assistance for beginning farmers, loan restructuring, seller-sponsored loans, agricultural improvements, and livestock expansion programs. The legislation establishes that loan participations must be priced to cover interest and principal with a reserve for losses, while prioritizing basic beginning farmer loans first, followed by seller-sponsored and agricultural improvement loans. Additionally, $50,000 is allocated for bond sale expenses, and the bill takes effect the day after it is enacted.