The Minnesota House on Monday passed with strong bi-partisan support (129-0) a bill that would provide $35 million in bonding funds for the Rural Finance Authority’s (RFA’s) low-interest loan programs for Minnesota farmers.
(“This strong support for this bill is really rooted in the value of family farmers across Minnesota that’s understood across both aisles in this chamber. I think it’s also successful and also enjoys a great deal of support because this is a program that works.”)
Democratic Representative Clark Johnson of North Mankato says in particular loans from the RFA can help young farmers get into the business. The bill now heads to state Senate.