Dayton signs RFA bill into law
Legislation to fund the Rural Finance Authority (RFA) will be signed into law by Minnesota Governor Mark Dayton today.
The RFA, a public/private loan program allowing eligible farmers affordable credit through local lenders, ran out of money at the end of 2016.
State Representative Jeanne Poppe of Austin says a stand-alone bill to replenish RFA accounts quickly traveled through the House and Senate on its way to the Governor’s desk.
“People recognized that it was an important issue to our farmers and lenders, so everybody joined together to make that happen.”
She tells Brownfield the bill provides assurances to farmers that banks will have money available.
“The lenders now have access to the money. I think (farmers) were able to sort of make it through the last six weeks, and now they’ll be able to have access to the greater amount of dollars that the RFA has.”
Governor Dayton signed the $35 million dollar RFA bill into law during a special ceremony at the Minnesota Statehouse earlier today.
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