Section 41B.047 — Disaster Recovery Loan Program.
41B.047 DISASTER RECOVERY LOAN PROGRAM. Subdivision 1. Establishment. The authority shall establish and implement a disaster recovery loan program to help farmers: (1) clean up, repair, or replace farm structures and septic and water systems, as well as replace seed, other crop inputs, feed, and livestock; (2) purchase watering systems, irrigation systems, and other drought […]
Section 41B.048 — Agroforestry Loan Program.
41B.048 AGROFORESTRY LOAN PROGRAM. Subdivision 1. Purpose. The purpose of the agroforestry loan program is to provide low-interest financing to farmers during the growing period required to convert agricultural land to agroforestry. Subd. 2. Establishment. The authority shall establish and implement an agroforestry loan program to help finance the production of short rotation woody crops. […]
Section 41B.049 — Methane Digester Loan Program.
41B.049 METHANE DIGESTER LOAN PROGRAM. Subdivision 1. Establishment. The authority shall establish and implement a methane digester loan program to help finance the purchase of necessary equipment and the construction or improvement of a system that utilizes manure to produce electricity. Subd. 2. Deposit of repayments. All repayments of financial assistance granted under subdivision 1, […]
Section 41B.055 — Livestock Equipment Loan Program.
41B.055 LIVESTOCK EQUIPMENT LOAN PROGRAM. Subdivision 1. Establishment. The authority must establish and implement a livestock equipment loan program to help finance the purchase of livestock-related equipment and make livestock facilities improvements. Subd. 2. Eligibility. Notwithstanding section 41B.03, to be eligible for this program a borrower must: (1) be a resident of Minnesota or general […]
Section 41B.056 — Pilot Agricultural Microloan Program.
41B.056 PILOT AGRICULTURAL MICROLOAN PROGRAM. Subdivision 1. Establishment. The authority shall establish and implement a pilot agricultural microloan program to help finance the production of specialty crops or eligible livestock. The authority may contract with an intermediary to provide an efficient delivery system for this program. Subd. 2. Definitions. (a) The definitions in this subdivision […]
Section 41B.036 — General Powers Of The Authority.
41B.036 GENERAL POWERS OF THE AUTHORITY. For the purpose of exercising the specific powers granted in section 41B.04 and effectuating the other purposes of sections 41B.01 to 41B.23 the authority has the general powers granted in this section. (a) It may sue and be sued. (b) It may have a seal and alter the seal. […]
Section 41B.037 — Homestead Redemption Program.
41B.037 HOMESTEAD REDEMPTION PROGRAM. The authority may establish and implement a homestead redemption program under sections 41B.01 to 41B.23. The purpose of the program is to assist persons who have lost their farms due to foreclosure, granting a deed in lieu of foreclosure, or other actions necessary to settle their agricultural debts, and who are […]
Section 41B.038 — Programs For Commitments To Other Entities.
41B.038 PROGRAMS FOR COMMITMENTS TO OTHER ENTITIES. The authority may establish programs to make or purchase and enter into commitments to make or purchase qualified agricultural loans or portions of the loans issued to persons described in section 41B.03, subdivision 1. The agricultural loans must be insured or guaranteed by the United States Department of […]
Section 41B.039 — Beginning Farmer Program.
41B.039 BEGINNING FARMER PROGRAM. Subdivision 1. Establishment. The authority may establish, develop criteria, and implement a beginning farmer program. Subd. 2. State participation. The state may participate in a new real estate loan with an eligible lender to a beginning farmer to the extent of 45 percent of the principal amount of the loan or […]
Section 41B.0391 — Beginning Farmer Program; Tax Credits.
41B.0391 BEGINNING FARMER PROGRAM; TAX CREDITS. Subdivision 1. Definitions. (a) For purposes of this section, the following terms have the meanings given. (b) “Agricultural assets” means agricultural land, livestock, facilities, buildings, and machinery used for farming in Minnesota. (c) “Beginning farmer” means an individual who: (1) is a resident of Minnesota; (2) is seeking entry, […]