2001 House Bill 4009 ↩

Senate Roll Call 192: Passed

To authorize state subsidized interest-free loans to farmers or agribusinesses affected by drought conditions during the summer of 2001. The loans would be made by banks, which would be compensated by the state for the foregone interest. The maximum loan would be $200,000 for a farmer, or $400,000 for an agribusiness, less any federal grants, or any crop insurance which was either paid to the farmer, or would have been paid had he taken advantage of its availability. The loans would be paid back over a five year period. The Senate Fiscal Agency estimates that the bill could cost as much as $32,400,000 over five years.