26RS HB 417

Actions

Last Action	01/15/26: to Committee on Committees (H)
Title	AN ACT relating to the Farmland Preservation Loan Program.
Bill Documents	Introduced
Bill Request Number	129
Sponsors	D. Osborne, M. Dossett
Summary of Original Version	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.
Index Headings of Original Version	Administrative Regulations And Proceedings - Kentucky Agricultural Finance Corporation, Farmland Preservation Loan Program, authorization Agriculture - Farmland Preservation Loan Program, Kentucky Agricultural Finance Corporation, administration Banks And Financial Institutions - Participating lender, loan participation agreement, farmland preservation loan, establishment Land Use - Agricultural land, purchase, improvement, Farmland Preservation Loan Program Loans, Credit, Interest, And Usury - Participation loan, Farmland Preservation Loan Program, establishment