By Shannon Lukens.
Some modifications have been made to the Colorado Agriculture Future Loan Program in a bill signed by Gov. Polis Wednesday. This legislation provides key resources to farmers and ranchers to help grow their farms and ranches. Senator Dylan Roberts is a co-sponsor of the bill which was signed into law on Wednesday.
“These loans will be available to people in Northwest Colorado starting agriculture and ranching businesses and across the state to cultivate our next generation of agriculture. It’s so important that we support this industry and I’m thrilled that my bipartisan bill has been signed into law.”
A link to access the loans is on the Colorado Department of Agriculture website.
Press release from Governor Polis; March 22, 2023.
On Ag Day, Gov. Polis Signs Bipartisan Bill into Law to Support Colorado’s Agriculture Industry
DENVER — Today, Governor Polis signed bipartisan legislation into law, SB23-050 Eligibility For Agricultural Future Loan Program sponsored by Representatives Richard Holtorf & Karen McCormick, Senators Cleave Simpson & Dylan Roberts, to build upon the Polis administration’s ongoing support for Colorado’s thriving agriculture industry. This legislation provides key resources to farmers and ranchers to help grow their farms and ranches.
Earlier today, Lieutenant Governor Dianne Primavera and Colorado Department of Agriculture Commissioner Kate Greenberg joined state lawmakers and community members from across the state to celebrate Agriculture Day at the Capitol. Lieutenant Governor Primavera issued a proclamation in celebration of Ag Day at the state Capitol.
Eligibility For Agricultural Future Loan Program
The bill changes the definitions of “eligible business” and “eligible farmer or rancher” under the Colorado agricultural future loan program to specify that:
- Eligible businesses include entities that are currently in operation and ones that will be in operation;
- Eligible businesses and eligible uses for the loan include businesses that conduct agricultural processing or ones that develop or manufacture technology designed to benefit farmers and ranchers; and
- Eligible farmers and ranchers include farmers and ranchers that currently own or operate or will own or operate a farm or ranch.
The bill removes the repeal of the loan program.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)