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 and modernization loan program. The Rural Finance Authority is responsible for repaying all debt service on the bond proceeds used for this appropriation, and loan participations must be structured to ensure full coverage of interest and principal, along with a reserve for potential losses. The bill establishes a priority system for loan distribution, favoring basic beginning farmer loans first, followed by seller-sponsored loans and agricultural improvement loans.

Additionally, the bill allocates $50,000 from the bond proceeds fund to the commissioner of management and budget for bond sale expenses. To facilitate the funding, the commissioner is authorized to sell and issue state bonds up to $50,050,000, following the guidelines set forth in relevant Minnesota Statutes and the state constitution. The provisions of this bill will take effect the day after it is enacted.