Senator Joyce Advances Bill to Help First Time Farmers

Illinois State Senator Patrick Joyce has advanced a measure expanding assistance for first-time farmers. According to a press release, Senate Bill 3019 would ensure the Illinois Finance Authority can assist first-time farmers with purchasing new equipment and real estate by removing a provision that individuals with a net worth exceeding half-a-million dollars from receiving any bonds. Senator Joyce emphasized that as the cost of land and equipment continues to increase, it is important to keep bond limits paced with the true rate of inflation. The bill passed the Senate Financial Institutions Committee with bipartisan support and will be read on the Senate floor on April 14th.