The bill amends the Texas Agricultural Finance Authority's governance and operational structure, specifically modifying the composition of its board of directors and the terms of its members. The board will now consist of the commissioner of agriculture and six appointed members, reduced from nine. The categories for board membership have been updated to include one elected or appointed official from a municipality or county, two individuals knowledgeable about agricultural lending practices, one representative from agricultural businesses, one from agriculture-related entities, and one representative of young farmers. Additionally, the bill mandates that the authority prepare an annual report detailing its activities, including revenues and expenditures, which must be submitted to the Legislative Budget Board.

Furthermore, the bill introduces provisions for the authority to administer programs that address plant diseases and pest outbreaks, enhancing its role in supporting agricultural businesses. It also revises the maximum loan amount under the young farmer interest rate reduction program from $500,000 to $1 million and expands the eligibility criteria for grants to include agricultural businesses without age restrictions. The bill establishes a new subchapter focused on miscellaneous provisions, including a requirement for the Texas Department of Agriculture to conduct annual studies on plant diseases and pest outbreaks, culminating in a comprehensive report by January 1, 2028.

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)