JACKSON — 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, 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.