Modify Colorado Agricultural Future Loan Program

Plain English Breakdown

The official source material does not provide specific details on enforcement, penalties, funding amounts, or criteria for transferring land ownership.

Colorado Agricultural Future Loan Program Changes

This act changes Colorado's agricultural future loan program to allow more types of groups to get money from the program.

What This Bill Does

• Expands who can receive loans under the Colorado Agricultural Future Loan Program.
• Defines eligible entities as those certified by the division of conservation or certain water-related districts with support letters.
• Requires the commissioner of agriculture to create rules that give priority to loan applications focused on land conservation and transfer to new farmers or ranchers.

Who It Names or Affects

• Farmers and ranchers seeking loans for land acquisition and conservation.
• Entities certified by the division of conservation.
• Water-related districts, irrigation districts, and ditch and reservoir companies with support letters from certified entities.

Terms To Know

Eligible entity

A group that can receive loans under the Colorado Agricultural Future Loan Program, including those certified by the division of conservation or certain water-related districts with support letters.

Division of Conservation

The agency responsible for certifying eligible entities and providing support letters.

Limits and Unknowns

• The bill does not specify how much funding will be available to these new eligible entities.
• It is unclear what the exact criteria are for transferring ownership of land to new farmers or ranchers.
• Details on enforcement and penalties for non-compliance with the rules created by the commissioner of agriculture are not provided.

Official Summary Text

The act modifies the Colorado agricultural future loan program (program) to permit certain eligible entities to receive funding from the program. An eligible entity is defined as an entity that is certified by the division of conservation (division) or an entity that:
Is a district that has authority to conduct water activities, an irrigation district, or a ditch and reservoir company; and
Has a letter of support from an entity certified by the division.
The act directs the commissioner of agriculture to adopt rules that prioritize awarding loans to eligible entities that seek to acquire and conserve agriculturally productive land and to transfer ownership of that land to an eligible farmer or rancher who qualifies for a loan from the program.
(Note: This summary applies to this bill as enacted.)