This bill modifies the eligibility criteria and verification requirements for farm down payment assistance in Minnesota. It amends Minnesota Statutes 2025 Supplement, section 17.133, to define "eligible farmer" more comprehensively, including new criteria such as having earned at least $1,000 in farm income or demonstrating farming experience, and having a net worth that does not exceed a specified limit. Additionally, the bill introduces a requirement for grant recipients to verify gross farm income of at least $1,000 or demonstrate investment in farm business infrastructure during the first five years of ownership. The maximum grant amount is set at 30 percent of the purchase price of a farm, with a matching requirement of at least $8,000 from other funding sources.

Furthermore, the bill modifies a prior appropriation for farm down payment assistance grants, allocating $1,250,000 for the first year and $1,250,000 for the second year, with priority given to applicants with lower annual gross farm product sales and those producing specialty crops. It also establishes a lottery system for awarding grants to priority applicants who have a purchase agreement by a specified date. The effective date for these changes is set for July 1, 2026.