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 refined, including one representative for young farmers, and the terms for members will be staggered, with three members' terms expiring in even-numbered years and three in odd-numbered years. 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 a new subchapter focused on the study of plant diseases and pest outbreaks, requiring the Texas Department of Agriculture to partner with relevant agencies to conduct annual studies and publish reports on their findings. This includes details on the duration and resolution of outbreaks, with a comprehensive summary report due by January 1, 2028. The bill also revises the definitions and eligibility criteria for various financial assistance programs, including increasing the maximum loan amount under the young farmer interest rate reduction program from $500,000 to $1 million, and establishing a new agriculture grant program aimed at supporting agricultural businesses and supply chain resiliency.

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)