LRB-3800/1
CTS:lmk:jf
2005 - 2006 LEGISLATURE
February 10, 2006 - Introduced by Representatives Suder, Gronemus, M.
Williams, Musser, Hahn, Loeffelholz, Petrowski, Davis, Towns, Ott, Van
Roy, Hines, Lamb, Wood, Albers, Ainsworth, Lothian, Freese, Kreibich,
Townsend, Vruwink, McCormick, Gunderson and Molepske, cosponsored by
Senators Zien, A. Lasee, Roessler and
Erpenbach. Referred to Committee on
Rural Development.
AB1003,1,4
1An Act to renumber and amend 234.91 (3) (a);
to amend 234.91 (1) (c); and
2to create 234.91 (3) (a) 2. of the statutes;
relating to: eligibility for the farm
3assets reinvestment management loan guarantee program administered by the
4Wisconsin Housing and Economic Development Authority.
Analysis by the Legislative Reference Bureau
Under the Farm Assets Reinvestment Management Loan Guarantee Program
(program), the Wisconsin Housing and Economic Development Authority (WHEDA)
guarantees loans by participating lenders to farmers for the acquisition of
agricultural assets or the cost of improvements to land if the loan satisfies certain
conditions and the farmer meets certain eligibility criteria. Under current law, a
farmer is eligible for a loan guarantee under the program if the farmer is currently
operating farm premises.
This bill expands eligibility for loan guarantees under the program to include
a person who intends to operate farm premises and who has at least three years of
farming experience, including managing the day to day operations of a farm.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB1003, s. 1
5Section
1. 234.91 (1) (c) of the statutes is amended to read:
AB1003,2,2
1234.91
(1) (c) "Farmer"
has the meaning given means a person engaged in, or
2who intends to engage in, farming, as defined in s. 102.04 (3).
AB1003, s. 2
3Section
2. 234.91 (3) (a) of the statutes is renumbered 234.91 (3) (a) (intro.)
4and amended to read:
AB1003,2,55
234.91
(3) (a) (intro.) The farmer is
currently operating either of the following:
AB1003,2,6
61. A person who currently operates farm premises.
AB1003, s. 3
7Section
3. 234.91 (3) (a) 2. of the statutes is created to read:
AB1003,2,108
234.91
(3) (a) 2. A person who intends to operate farm premises and who has
9not less than 3 years of farming experience including managing the day to day
10operations of a farm.
