In the near future, I intend to introduce legislation that would expand the use of the Agriculture Linked (Agri-Link) Investment Program to provide greater access to credit to the agriculture community.   Agriculture is one of the biggest drivers of our state’s economy, supporting more than 593,000 jobs with a total economic impact of $132.5 billion.
 
Agri-Link is an existing program that offers low-interest loans to Pennsylvania agriculture operations implementing best management practices (BMPs). To be eligible, borrowers must have BMP projects included in an approved nutrient management, manure management, agricultural erosion and sedimentation, or other Pennsylvania State Conservation Commission (SCC)-approved federal or state conservation plan.
 
Act 37 of 2019 authorizes the Pennsylvania State Conservation Commission (SCC), under the Department of Agriculture, to subsidize qualifying loans through the Pennsylvania Treasury. The aggregate amount of Agri-Link investment loans over the duration of the program is capped at $25 million.
 
The SCC has already approved expenditures to offset interest rates, so this legislation expanding the Agri-Link program for additional uses would not necessarily require an additional cost to the Commonwealth.
 
This legislation would provide reduced interest rates for an expanded list of eligible projects. Consideration shall be given to capital improvements and expenditures related to agricultural production or the production of an agricultural commodity within the borders of this Commonwealth, and shall consult with the Department in establishing project criteria.
 
Eligible projects include but are not limited to: 

• Best management practices as determined by the commission.
• The purchases of farms by beginning farmers.
• Projects that help agricultural operations address agricultural nutrients or odor concerns or that produce energy from agricultural and animal by-products.
• Other lending priorities as established by the commission in consultation with the Department of Agriculture.

In addition, it would provide for an increase in the individual maximum loan from $250,000 to $500,000. By expanding the use of the AgriLink program, we can help sustain agriculture operations in every corner of the Commonwealth.
 
Thank you for joining me in support of this important piece of legislation.