Hill Co-Sponsors Legislation To Help Farmers

Republican State Representative Brian Hill of Zanesville is co-sponsoring legislation to encourage the growth of agricultural businesses. It will modify the Agricultural Linked Deposit Program by permitting the Ohio Treasurer to invest in eligible lending institutions that lend money to an eligible agricultural business at a reduced rate. Hill says House Bill 415 will increase the maximum amount that the treasurer may invest in agricultural linked deposits from 125 million dollars to 165 million dollars. It would also increase the maximum amount that can be loaned from $100,000 per application to $150,000 per application. Hill says this pro-jobs legislation is needed to help address the needs of the agriculture industry which is a crucial component of Ohio economy. Hill says by increasing the loan amount farmers will be able to increase investment in their businesses. House Bill 415 will now be assigned to a House committee. The bill co-sponsor is Republican State Representative Robert Sprague of Findlay.