Bill > HB1541

This bill modifies the Oklahoma Agricultural Linked Deposit Program by making several key changes. It expands the definition of eligible agricultural businesses to include veterinary practices serving large animals and excludes medical marijuana growing operations from alternative agricultural products. The bill increases the maximum linked deposit amount for at-risk farm or ranch operations from $350,000 to $1 million, while maintaining a $350,000 limit for healthy corner stores. It also increases the total amount the State Treasurer can invest in linked deposit programs from $225 million to $500 million. The bill clarifies the State Treasurer's authority to issue guidelines for the program and requires an annual report to state leadership. Additionally, it modifies the loan application and review process, allowing the State Board of Agriculture or its designee to review loan packages and provide recommendations within ten business days. The legislation aims to provide more financial flexibility and support for agricultural businesses in Oklahoma, with provisions to ensure careful review and appropriate use of linked deposit funds.

Agriculture and Natural Resources, Budget and Finance, Business and Industry, Government Affairs

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1541&Session=2600