SF3502 (Legislative Session 94 (2025-2026))
Farmer-lender mediation program reauthorization
Related bill: HF3259
AI Generated Summary
Purpose of the Bill
The purpose of this bill is to extend the existing farmer-lender mediation program in Minnesota. This program provides a structured process that facilitates resolution and negotiation between farmers and their creditors, helping to prevent farm foreclosures.
Main Provisions
- Reauthorization: The bill seeks to reauthorize the farmer-lender mediation program, ensuring its continuation beyond its current expiration date.
- New Expiration Date: The bill proposes extending the expiration of relevant statutes that govern the program. The new expiration date for the program will be June 30, 2032.
Significant Changes to Existing Law
- This bill changes the expiration date for the sections of the Minnesota Statutes that concern farmer-lender mediation from June 30, 2027, to June 30, 2032. This five-year extension allows for the continued support of agricultural financial negotiations without interruption.
Relevant Terms
farmer-lender mediation program, agricultural support, reauthorization, expiration date, farm foreclosures, creditor negotiations.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| May 09, 2025 | Senate | Floor | Action | Introduction and first reading | |
| May 09, 2025 | Senate | Floor | Action | Referred to | Agriculture, Veterans, Broadband, and Rural Development |
Citations
[
{
"analysis": {
"added": [
"Extends expiration date to June 30, 2032."
],
"removed": [
""
],
"summary": "The bill extends the expiration date for the farmer-lender mediation program under section 583.215.",
"modified": [
"Expiration date previously set for June 30, 2027, now amended to 2032."
]
},
"citation": "583.215",
"subdivision": ""
}
]Progress through the legislative process
In Committee