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SUDER PROPOSES "FAMILY FARM RENEWAL ACT"
Tuesday, January 31st, 2006 -- 8:40 am
Posted by Riley Hebert-News Director
Faced with the loss of roughly five Wisconsin farms a day, an area state lawmaker sponsors a bill that he says will make it easier for young people to become farmers.
Representative Scott Suder’s “Family Farm Renewal Act” would expand the WHEDA FARM Loan Guarantee program. The program currently guarantees loans for agricultural producers who want to expand or modernize their existing operation, but in order to apply, you must already operate a farm.
The legislation would open the program to beginning farmers with the intent of easing the collateral issues often associated with traditional financing options. Suder says the idea was proposed to him by a local lender who was concerned by the lack of financing options available for beginning farmers.
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