Relating to the Texas Agricultural Finance Authority and to a study and report on plant diseases and pest outbreaks.

SB 2985 amends Texas law to update the governance and reporting requirements for the Texas Agricultural Finance Authority (TAF). It revises the board composition to reduce appointed members from nine to six, adjusts representation categories (e.g., reducing agricultural lending experts from four to two), and establishes staggered board terms. The bill also requires the Authority to submit annual financial reports to the Legislative Budget Board detailing program activities. Crucially, it adds a new provision (Section 58.021(a)(6)) authorizing the Authority to administer programs studying agricultural issues like plant diseases and pest outbreaks in partnership with other state entities. This directly affects agricultural businesses receiving financial assistance and state agencies conducting agricultural research.