Eligibility For Agricultural Future Loan Program
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.)