HB 417
AN ACT relating to the Farmland Preservation Loan Program.
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- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
Create a new section of KRS 247.940 to 247.978 to define "participating lender"; authorize the Kentucky Agricultural Finance Corporation to establish, administer, and fund a Farmland Preservation Loan Program and enter into a loan participation agreement with a qualified participating lender to purchase interests in promissory notes to allow a borrower to purchase or improve an agricultural property located within the Commonwealth; authorize the Kentucky Agricultural Finance Corporation to promulgate administrative regulations to administer the Farmland Preservation Loan Program.
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Primary sponsor
David W. Osborne
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