The bill amends the Texas Agricultural Finance Authority's governance and operational structure, specifically altering the composition of its board of directors and the reporting requirements. The board will now consist of the commissioner of agriculture and six appointed members, reduced from nine, with specific categories for appointments including representatives from municipalities, agricultural businesses, and 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 definitions and eligibility criteria for various financial assistance programs, including increasing the maximum loan amount from $500,000 to $1 million. The bill establishes a new agriculture grant program aimed at maintaining agricultural businesses and fostering their expansion, with grants ranging from $5,000 to $500,000. Lastly, it requires an annual study on plant diseases and pest outbreaks, culminating in a comprehensive report by January 1, 2028, to inform policy recommendations.

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)