H.B. No. 43 amends the governance and operational framework of the Texas Agricultural Finance Authority by redefining "agricultural business" to include nonprofit organizations focused on maintaining agricultural land use, while eliminating previous references to recreational activities on agricultural land. The bill restructures the board of directors to consist of nine members, including the commissioner of agriculture, two members with expertise in agricultural lending, and six members appointed by the governor from specific categories, such as young farmers or ranchers and family farm operators. The terms of board members will be staggered, and the process for filling vacancies has been clarified.

The bill also introduces new programs and funding mechanisms to bolster agricultural development, including financial assistance for managing agriculture-related diseases and pests. It increases the maximum loan amount under the young farmer interest rate reduction program from $500,000 to $1 million and broadens the eligibility criteria for grants and loans. Additionally, H.B. No. 43 requires the authority to submit annual reports on its activities and financial statements to enhance transparency and accountability. The Act will take effect immediately upon receiving a two-thirds vote from both legislative chambers or on September 1, 2025, if such a vote is not achieved. The bill has passed both the House and Senate with significant support.

Statutes affected:
Introduced: Agriculture Code 58.012, Agriculture Code 58.016, Agriculture Code 58.021, The heading to Subchapter F, Chapter , Agriculture Code 58.033, Agriculture Code 58.071, Agriculture Code 58.072, Agriculture Code 58.075, Agriculture Code 58.091, Agriculture Code 58.092, Agriculture Code 58.093, Agriculture Code 58.095 (The heading to Subchapter F, Chapter , Agriculture Code 58, Agriculture Code 58)
House Committee Report: Agriculture Code 58.002, Agriculture Code 58.012, Agriculture Code 58.016, Agriculture Code 58.021, Agriculture Code 58.071, Agriculture Code 58.072, Agriculture Code 58.075, Agriculture Code 58.091, Agriculture Code 58.092, Agriculture Code 58.093, Agriculture Code 58.095 (The heading to Subchapter F, Chapter , Agriculture Code 58, Agriculture Code 58)
Engrossed: Agriculture Code 58.002, Agriculture Code 58.012, Agriculture Code 58.016, Agriculture Code 58.021, Agriculture Code 58.071, Agriculture Code 58.072, Agriculture Code 58.075, Agriculture Code 58.091, Agriculture Code 58.092, Agriculture Code 58.093, Agriculture Code 58.095 (The heading to Subchapter F, Chapter , Agriculture Code 58, Agriculture Code 58)
Senate Committee Report: Agriculture Code 58.002, Agriculture Code 58.012, Agriculture Code 58.016, Agriculture Code 58.021, Agriculture Code 58.071, Agriculture Code 58.072, Agriculture Code 58.075, Agriculture Code 58.091, Agriculture Code 58.092, Agriculture Code 58.093, Agriculture Code 58.095 (The heading to Subchapter F, Chapter , Agriculture Code 58, Agriculture Code 58)
Enrolled: Agriculture Code 58.002, Agriculture Code 58.012, Agriculture Code 58.016, Agriculture Code 58.021, Agriculture Code 58.023, Agriculture Code 58.071, Agriculture Code 58.072, Agriculture Code 58.075, Agriculture Code 58.091, Agriculture Code 58.092, Agriculture Code 58.093, Agriculture Code 58.095 (The heading to Subchapter F, Chapter , Agriculture Code 58, Agriculture Code 58)