SB23-050
Eligibility For Agricultural Future Loan Program
Concerning modifications to the Colorado agricultural future loan program, and, in connection therewith, modifying the eligibility requirements for the program and eliminating the repeal date for the loan program.
Session:
2023 Regular Session
Subject:
Bill Summary
Agriculture
The bill changes the definitions of "eligible business" and "eligible farmer or rancher" under the Colorado agricultural future loan program to specify that:
- Eligible businesses include entities that are currently in operation and ones that will be in operation;
- Eligible businesses and eligible uses for the loan include businesses that conduct agricultural processing or ones that develop or manufacture technology designed to benefit farmers and ranchers; and
- Eligible farmers and ranchers include farmers and ranchers that currently own or operate or will own or operate a farm or ranch.
The bill removes the repeal of the loan program.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)