Representative VanderWalls House Bill 4562 passed the house on Tuesday. According to Vanderwall, the bill extends the state’s 2012 low-interest ag disaster loan program, which had been due to expire. “Basically what it does is, the folks in our farming community, in case of drought or freeze like we had again this year, it extended the sunset [so] that they can get a low interest loan to make sure they can continue to pay their bills and don't lose their farm”
The bill also keeps the structure of the program in law so, should the governor declare another crop disaster, the Legislature would need to allocate funds before farmers could receive loans. The bill, part of a four-bill package clarifying farmers’ eligibility to receive tax exemptions when buying grain bins and equipment, now moves to the Senate for consideration.