HB 2319 -- Livestock Feed and Crop Input Loan Guarantee Program

Sponsor:  Loehner

This bill requires the Missouri Agricultural and Small Business
Development Authority to provide assistance to independent
livestock and poultry family farm operations by implementing a
livestock feed and crop input loan guarantee program to grant
partial loan guarantees on loans for the purchase of  livestock
feed and crop inputs to produce crops for feeding livestock.

The Livestock Feed and Crop Input Loan Guarantee Fund is created
consisting of moneys appropriated by the General Assembly;
bequests by the federal government; private, or other sources;
and investment income on the fund.  The General Assembly may
appropriate up to $4 million to the fund.  Qualified independent
livestock and poultry family farm operations may borrow up to
$40,000.  The authority provides a 50% first-loss guarantee, on a
declining principal basis, to local lenders and will charge a
one-time participation fee of $50 on the loan.  A special loan
guarantee fee of up to 1% per annum of the outstanding principal
of the loan may be charged by the lender and paid to the
authority.

Missouri House of Representatives
Last Updated March 17, 2008 at 10:51 am