The proposed bill aims to prohibit discrimination against agricultural producers by financial services providers and establishes the Farmer Protection Act. It amends the definition of "discriminate" to include actions taken against agricultural producers, alongside existing categories such as energy, fossil fuel, and firearms entities. The bill also introduces a new definition for "agricultural producer," which encompasses individuals or companies involved in the production of goods derived from plants or animals, including crop growing, animal husbandry, and livestock or dairy production.

Additionally, the bill mandates the Treasurer of State to maintain a list of financial services providers that discriminate against agricultural producers, similar to those already listed for energy and firearms entities. The ESG Oversight Committee is tasked with notifying these providers before they are added to the list, allowing them a chance to demonstrate non-discriminatory practices. If a financial services provider is found to discriminate, they will be required to disclose financial information to the ESG Oversight Committee to prove compliance. The bill emphasizes transparency and accountability in financial dealings with agricultural producers, ensuring they are treated fairly in the marketplace.

Statutes affected:
SB 409: 25-1-1001(4), 25-1-1001
Act 406: 25-1-1001(4), 25-1-1001