SF0048 • 2017

Farm loan program amendments.

AN ACT relating to farm loans; amending the maximum amount of loans under the farm loan program; amending the total amount of loans that can be made to beginning agricultural producers; and providing for an effective date.

Agriculture

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor: Senator Emerich
Last action: 2017-03-06
Official status: enrolled
Effective date: 7/1/2017

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

2017-03-06 Governor
Governor Signed SEA No. 0024
2017-03-06 LSO
Assigned Chapter Number
2017-02-22 House
H Speaker Signed SEA No. 0024
2017-02-21 Senate
S President Signed SEA No. 0024
2017-02-16 LSO
Assigned Number SEA No. 0024
2017-02-16 House
H 3rd Reading:Passed 53-2-5-0-0
2017-02-15 House
H 2nd Reading:Passed
2017-02-14 House
H COW:Passed
2017-02-10 House
H Placed on General File
2017-02-10 House
H09 - Minerals:Recommend Do Pass 9-0-0-0-0
2017-02-07 House
H Introduced and Referred to H09 - Minerals
2017-01-26 House
H Received for Introduction
2017-01-26 Senate
S 3rd Reading:Passed 29-0-0-0-1
2017-01-25 Senate
S 2nd Reading:Passed
2017-01-24 Senate
S COW:Passed
2017-01-23 Senate
S Placed on General File
2017-01-23 Senate
S02 - Appropriations:Recommend Do Pass 5-0-0-0-0
2017-01-18 Senate
:Rerefer to S02 - Appropriations
2017-01-18 Senate
S05 - Agriculture:Recommend Do Pass 5-0-0-0-0
2017-01-11 Senate
S Introduced and Referred to S05 - Agriculture
2017-01-09 Senate
S Received for Introduction
2016-12-22 LSO
Bill Number Assigned

Official Summary Text

Bill Summary

Bill No.:
SF0048
Effective
:
7/1/2017

LSO No.:
17LSO-0293

Enrolled Act No.:
SEA No. 0024

Chapter No.:
[Chapter Number_RO]

Prime Sponsor:
Emerich

Catch Title:
Farm loan program amendments.

Subject:
Farm loan program
loan amounts.

Summary/Major Elements:

This bill increases the maximum amount that can be loaned to any one person under the farm loan program from
eight hundred thousand dollars
($800,000.00)

to
one million dollars
($1,000,000.00)
.

This bill also increases t
he total value of loans
than can be provided to beginning agricultural producers from
ten
percent
(10%)
to
twenty percent
(20%)
of the total amount of
authorized
farm loan
s.
The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill
.

Current Bill Text

Read the full stored bill text

ORIGINAL
Senate
File No
.
SF0048

ENROLLED ACT NO. 24,

SENATE

SIXTY-FOURTH LEGISLATURE OF
THE STATE OF WYOMING
2017 General Session

AN ACT relating to farm loans; amending the maximum amount of loans under the farm loan program; amending the total amount of loans that can be made to beginning agricultural producers; and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1
.

W.S. 11
‑
34
‑
115 and 11
‑
34
‑
117
(c)
are amended to read:

11
‑
34
‑
115.

Minimum and maximum amount of loans.

The amount of loans to any one (1) borrower shall not be less than ten thousand dollars ($10,000.00) nor more than
eight hundred thousand
dollars ($800,000.00)

one million dollars ($1,000,000.00)
if all loans to the borrower are made for the purposes of purchasing farm lands or other purposes as defined by W.S. 11
‑
34
‑
109(a)(
i
) through (iv).

11
‑
34
‑
117.

Rates of interest; length of loan; amount.

(c)

The total value of loans outstanding pursuant to subsection (b) of this section shall not exceed
ten percent (10%)

twenty percent (20%)
of the total amount of farm loan investment authorized by W.S. 11
‑
34
‑
129.

Section
2
.

This
act is effective July 1,
201
7
.

(END)

Speaker of the
House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the
Senate
.

Chief Clerk

1