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. It outlines the process for notifying these providers before they are added to the list, requiring evidence of discrimination and allowing them a chance to demonstrate compliance. The bill emphasizes transparency and accountability in financial dealings with agricultural producers, ensuring they are not unfairly treated based on their industry status.

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