Purpose of the Bill

The purpose of this bill is to establish a requirement for an annual report to the Minnesota legislature concerning the beginning farmer loan program. This program aims to provide better opportunities for new farmers in the state.

Main Provisions

• Annual Reporting Requirement: The bill mandates that starting December 1, 2025, and every year after that, a report must be submitted to the legislature. This report will be provided to the chairs and ranking minority members of the senate and house committees responsible for agriculture.

• Content of the Report: The report must detail several aspects of the beginning farmer loans:

  1. Background information on beginning farmers in Minnesota.
  2. The total number and amount of loans provided.
  3. The geographic distribution of these loans across counties.
  4. Data on the borrowers who are classified as emerging farmers.
  5. Information on borrowers with limited land or market access at the time of receiving the loan.
  6. Disaggregated demographic data of borrowers, focusing on gender, race, and ethnicity.
  7. The number and financial details of loan applications in which the authority did not participate.

Significant Changes to Existing Law

• Introduction of a New Reporting Obligation: This amendment to Minnesota Statutes 2024, section 41B.039, adds a new subdivision that requires detailed annual reporting, which was not previously stipulated.

Relevant Terms

• Beginning farmer loan program
• Annual report
• Emerging farmers
• Limited land access
• Limited market access
• Disaggregated data
• Geographic distribution