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Beagle’s Ag-LINK Bill Earns Senate Passage
Reforms will assist farming operations throughout Ohio
COLUMBUS — The Ohio Senate today offered its approval of legislation to
modify the Agricultural Linked Deposit Program, which supports Ohio’s
agricultural community by permitting the Ohio Treasurer of State to
invest in eligible lending institutions that then lend money to an
eligible agricultural business at a reduced interest rate.
Senate Bill 281, sponsored by State Senator Bill Beagle (R-Tipp City),
will increase the maximum amount that the treasurer may invest in
agricultural linked deposits from $125 million to $165 million. It also
would increase the maximum amount that can be loaned from $100,000 per
application to $150,000 per application.
“The Ag-Link program is set up to benefit the small family farmers who
make up the backbone of Ohio’s Agricultural Industry,” Beagle said.
“This legislation will have a positive impact for many hardworking
farmers across Western Ohio and the entire state.”
The Ohio House of Representatives is currently considering a companion
measure.
Both House Bill 415, sponsored by Representatives Robert Sprague (R –
Findlay) and Brian Hill (R – Zanesville), and the Beagle legislation
have received bipartisan support.
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