The bill appropriates $50,000,000 from the bond proceeds fund to the Rural Finance Authority to support various agricultural loan programs, including the beginning farmer program, loan restructuring program, seller-sponsored program, agricultural improvement loan program, and livestock expansion loan program. The funds will be used to purchase participation interests or make direct loans to farmers, with a priority system established for loan types. Additionally, the bill allocates $50,000 for bond sale expenses to the commissioner of management and budget.

To finance this appropriation, the commissioner of management and budget is authorized to sell and issue state bonds totaling up to $50,050,000. The bill outlines that all debt service on the bond proceeds must be repaid by the Rural Finance Authority, ensuring that loan participations are priced to cover interest, principal, and potential losses. The effective date of the bill is set for the day following its final enactment.