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DENVER, CO – The House today passed bipartisan legislation sponsored by Representative Karen McCormick to make it easier for first-time farmers and ranchers to jumpstart their careers. SB26-064 passed the House by a unanimous vote of 65-0.
“This bipartisan bill uplifts the next generation of Colorado’s farmers and ranchers,” said Rep. Karen McCormick, D-Longmont. “Farmland is expensive, and it can be difficult for beginner farmers to get their foot in the door. This bill would ensure that new farmers and ranchers are prioritized in state-operated loan programs. To safeguard our water and natural resources, this bill also expands loan eligibility to water conservation districts. Farmers and ranchers are excellent stewards of our land, and this bill reduces barriers to entering Colorado’s ag industry.”
SB26-064 is also sponsored by Representative Matt Soper, R-Delta. To help farmers and ranchers to secure loans, this bill would support the new generation of farmers by financing their startup costs. SB26-064 would also expand loan eligibility for the Colorado Agricultural Future Loan Program to include water conservancy, water conservation, and water, sanitation and irrigation districts, and ditch and reservoir companies. This expansion would make it easier for land stewards to protect vital resources, including water.
Additionally, SB26-064 upholds Colorado’s agriculture future by enabling qualified companies, farmers and ranchers to use this financing tool to purchase at-risk farmland and protect it. This would help guarantee farmland’s long-term protection.
According to the Colorado Department of Agriculture, Colorado is experiencing a nation-leading loss of agricultural land, with 1.6 million acres taken out of production in the last five years. This bill aims to protect Colorado’s farmland by making it easier for farmers and ranchers to secure financing.