House Speaker Dustin Burrows (R-District 83), Representative Stan Kitzman (R-District 85), Senator Kevin Sparks (R-District 31), and Senator Charles Perry (R-District 28) and their colleagues from both parties that supported House Bill (HB) 43 will stand the test of time when it comes to preserving and enhancing the agricultural industry of Texas in such times of financial peril.
HB 43, upon its enactment and implementation, is one of the most prestigious and calculated pieces of legislation for agriculture conducted by the State of Texas in my lifetime.
Agriculture has been struggling financially for more than three years. Unfortunately, this has led to foreclosures, acquisitions or mergers, and refinancing (if possible), at a time when interest rates and input costs are higher than ever — all done in the name of survival.
HB 43 seeks to address these economic concerns, while also enhancing and growing the industry for years to come.
What’s unique about the structure of this piece of legislation is that it was strategically drafted by state representatives, senators, key staff and industry to provide timely needed assistance to a variety of end users. Age restrictions don’t apply and neither do industry segment limitations. Producers and agricultural businesses will be able apply for assistance through HB 43 programs.
But we’re not done yet. Next steps in developing the implementation of HB 43 will be critical.
The Texas Agricultural Finance Authority (TAFA) Board have started discussions on the methodology for implementation of HB43. We are encouraged by the speed and timeliness that they are dedicating to uploading this program online to help the industry and we greatly appreciate it.
Plains Cotton Growers has developed a fact sheet available for download that discloses the implementation timeline as we understand and subject to change by TAFA — as well as the program(s) parameters before and after HB 43 enactment.
If you have any questions, please call the PCG office: 806-7924904.