BEGINNING FARMER PROGRAM.

41B.039 BEGINNING FARMER PROGRAM. § Subdivision 1.Establishment. The authority may establish, develop criteria, and implement a beginning farmer program. § Subd. 2.State participation. The state may participate in a new real estate loan with an eligible lender to a beginning farmer to the extent of 45 percent of the principal amount of the loan. Individual loans must be no less than $20,000 and no more than $500,000. The interest rates and repayment terms of the authority's participation interest may be different than the interest rates and repayment terms of the lender's retained portion of the loan. § Subd. 3. [Repealed, 1989 c 273 s 8] § Subd. 4. [Repealed, 1989 c 273 s 8] § Subd. 5. [Repealed, 1989 c 273 s 8] History: 1987 c 396 art 1 s 17; 1988 c 688 art 10 s 4-6; 1989 c 273 s 6; 1992 c 381 s 6; 1992 c 532 s 1; 1993 c 332 s 3; 2000 c 477 s 55; 2000 c 488 art 3 s 14; 2004 c 254 s 16; 2009 c 94 art 1 s 84; 2015 c 44 s 22; 2024 c 126 art 2 s 56; 2024 c 127 art 38 s 56; 2025 c 34 art 3 s 20