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Bonding Bill still alive after flurry of Dayton vetoes

Out of the ashes of three vetoes commodity groups call devastating to Minnesota farmers, a state representative says there’s a good chance the Rural Finance Authority (RFA) will get funding.

House Ag Finance Committee DFL lead Jeanne Poppe of Austin tells Brownfield she’s disappointed the Omnibus Ag Policy, Tax, and Supplemental Budget Bills failed.

But, Governor Dayton has not made up his mind on the Bonding Bill that includes money for RFA, a program that offers low-interest loans to qualified farmers.

“That was another huge priority to get $35 million in additional funding, and that’s anticipated to happen.  I think the Governor might line-item veto some parts of that bill, but I’m hoping he will sign that bill so RFA funding should increase.”

RFA partners with local lenders to provide affordable credit on purchases of ag land, grain handling facilities, or even to reorganize farm debt.

Poppe says the Bonding Bill also includes capital improvements for Minnesota colleges and universities.

“A lot of the colleges do have farm business management programs, so successful things along those lines are good for our region, whatever part of the state you’re in.”

Governor Dayton has until June 4th to determine the fate of the Bonding Bill and other unsigned legislation.

The Minnesota Soybean and Corn Growers Associations are among the ag groups expressing frustration after Dayton vetoed key policy priorities like Section 179 conformity and rural mental health resources included in larger bills.

 

 

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