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 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 vacancies will be filled in the same manner as the original appointments.

Furthermore, the bill enhances the authority's capacity to provide financial assistance for pest and disease control programs and modifies existing loan and grant programs to better support agricultural businesses. It increases the maximum loan amount under the young farmer interest rate reduction program to $1 million and redefines the grant program to focus on agricultural businesses and land use maintenance. The authority is also required to submit annual reports on its activities and budgets to the Legislative Budget Board, promoting transparency and accountability. H.B. No. 43 is set to take effect immediately if it receives a two-thirds vote from both the House and Senate; otherwise, it will take effect on September 1, 2025. The bill has passed both chambers and is awaiting the Governor's approval.

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)