Under the Family Farms Act in current Missouri law, a "small farmer" is defined as a farmer who is a Missouri resident and has less than $250,000 in gross sales per year. The livestock loan program allows a small farmer to take one loan per family for use on one type of livestock with a maximum amount of $250,000. Proposed legislation (e.g., HB1596, SB817) would expand the definition of family farms to those who generate up to $500,000 in gross sales per year, would remove restrictions on the number of loans per livestock production, and increase the maximum amount of the loan for each type of livestock production.
This Note has been updated. See the previous version here (published 12/2022).