HB417 • 2026

AN ACT relating to the Farmland Preservation Loan Program.

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: D. Osborne
Last action: 2026-01-23
Official status: 01/23/26: to Agriculture (H)
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

AN ACT relating to the Farmland Preservation Loan Program.

What This Bill Does

AN ACT relating to the Farmland Preservation Loan Program.

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2026-01-23 Kentucky Legislative Research Commission
to Agriculture (H)
2026-01-15 Kentucky Legislative Research Commission
introduced in House to Committee on Committees (H)

Official Summary Text

AN ACT relating to the Farmland Preservation Loan Program.

Current Bill Text

Read the full stored bill text

UNOFFICIAL COPY 26 RS BR 129
Page 1 of 1
XXXX 1/14/2026 12:13 PM Jacketed
AN ACT relating to the Farmland Preservation Loan Program. 1
Be it enacted by the General Assembly of the Commonwealth of Kentucky: 2
SECTION 1. A NEW SECTION OF KRS 247.940 TO 247.978 IS CREATED 3
TO READ AS FOLLOWS: 4
(1) As used in this section, "participating lender" means one (1) or more lending 5
institutions that: 6
(a) Have a physical office or offices located in Kentucky; and 7
(b) Enter into a loan participation agreement in accordance with the 8
requirements of this section. 9
(2) The corporation may: 10
(a) Establish, administer, and fund, to the extent funds are available, a 11
Farmland Preservation Loan Program in accordance with this section; 12
(b) Enter into a loan participation agreement with a qualified participating 13
lender to purchase interests in promissor y notes made by a qualified 14
borrower enabling the borrower to purchase or improve an agricultural 15
property located within the Commonwealth; 16
(c) Purchase interests that do not exceed one million dollars ($1,000,000) or 17
seventy-five percent (75%) of the tota l amount of funds made to the 18
borrower; 19
(d) Approve any other eligible agricultural investment the board deems 20
reasonable; and 21
(e) Promulgate administrative regulations in accordance with KRS Chapter 22
13A as may be necessary for the administration of the Fa rmland 23
Preservation Loan Program. 24