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 from federal, 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
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:12 pm