Colorado Farm Bill Aids Beginner Farmers
July 14, 2008
According to the Colorado Agricultural. Development Authority (CADA), the recently approved Farm Bill has two significant provisions that will enhance their Beginning Farmer Program.
“These are changes that we have been working toward for many years and are necessary for the Beginning Farmer Program to help more people begin an agricultural career in our state,” said Ron Lambden, CADA Chairman.
The Beginning Farmer Program helps provide low-interest loans through public financing. Farm Bill changes to the program include: CADA’s bonding limit increases from $250,000 to $450,000 for each beginning farmer. These funds can be used to assist beginning farmers purchase land, equipment and breeding livestock. This new amount will also be indexed to inflation and is subject to increase starting in 2009.
The new bill also eliminates the dollar limitation on owned farmland and only uses the acreage restriction of 30 percent of the median county farm size to determine eligibility.
For more information on the Beginning Farmer Program, visit http://www.coloradoagriculture.corn or call (303) 815-9543.