JACKSON, Miss. (AP) - The state Senate has passed a bill to
establish a fund to provide loans to sweet potato farmers, many of
whom lost much of their crop last year because of the unusually
heavy rains during harvest time.
Under the bill, passed Thursday, a sweet potato farmer could
apply for a 2.5 percent interest rate loan. They would have five to
seven years to repay the loan. The state would issue bonds to pay
the bank in case of defaults.
The Northeast Mississippi Daily Journal reports the bill would
allow sweet potato farmers to apply for up to $1,700 per acre,
which would cover about half of the production costs, excluding
machinery.
The legislation now goes back to the House for consideration of
Senate changes.
---
The bill is House Bill 1681.
---
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Sweet potato bills pass
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Published: March 12, 2010
Published: March 12, 2010
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