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 in place 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. The bill emphasizes transparency by requiring the publication of this list on the Treasurer's website and outlines the process for financial services providers to contest their inclusion based on evidence of discrimination.

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