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House Ag Finance Committee hears Rural Finance Authority briefing, approves referral for bonding bill
Summary
Chair Anderson called the committee to order and the House Agriculture Finance and Policy Committee heard a Rural Finance Authority briefing and voted to refer House File 770 to the Capital Investment Committee after adopting technical amendments.
Chair Anderson called the House Agriculture Finance and Policy Committee to order and the committee heard a presentation from the Minnesota Department of Agriculture’s Rural Finance Authority (RFA) on lending programs that serve Minnesota farmers.
The RFA, which Commissioner Tom Peterson described as “our bank for many different loan programs,” told the committee that its bond-funded and revolving loan funds are expected to be exhausted around December 2026 unless replenished. The committee adopted an amendment to House File 770 and referred the bill to the Committee on Capital Investment.
The RFA presentation, delivered by Commissioner Tom Peterson and Matt McDevitt (Ag Finance Supervisor, RFA), outlined the authority’s loan types and recent activity. McDevitt said the RFA administers 13 loan programs that partner with…
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