The Minnesota Senate today took swift action to address two priorities facing Minnesotans: emergency insulin assistance and low-interest loans to support farmers who want to expand their operations or who are just getting off the ground.

First, the Senate passed the Alec Smith Emergency Insulin Act by a bipartisan vote. The legislation, House File 3100, establishes an emergency assistance program for Minnesotans unable to afford the high costs of insulin.

“We have heard so many stories about Minnesotans living in a constant state of crisis because they can’t afford their insulin,” said Sen. Jeremy Miller (R-Winona). “After months of bipartisan work by Republicans and Democrats in the House and Senate, I am thrilled we were able to reach this compromise that will save lives.”

The legislation creates an emergency insulin assistance program to provide access to insulin on an emergency basis, along with a patient assistance program to provide ongoing insulin access for eligible Minnesotans. The emergency program allows eligible individuals to receive up to three months of insulin from their pharmacy. The costs for both programs will be paid for by insulin manufacturers. Minnesotans seeking assistance under this program will be referred to a health plan that would provide them with insulin at little or no cost.

The Senate also approved $50 million for the Rural Finance Authority (RFA). The RFA is Minnesota’s main agricultural lending arm and partners with community banks to provide farmers with lower interest rates. This program offers low-interest loans to farmers for a number of activities, such as startup costs, debt restructuring, disaster recovery, and expanding operations.

“Agriculture is not just important to southeastern Minnesota, it is also the backbone of our state’s economy,” continued Sen. Miller. “When farmers are strong, so is the entire state. These low-interest loans will make sure our farmers and agriculture economies have the tools they need to remain strong for the foreseeable future.”

RFA is a vital financing tool for farmers, especially as the agriculture sector faces continued hardships. The funds are responsibly loaned, and the default rate is very low. Losses have been less than 1% since the program began in 1986. RFA is nearly depleted, so quick legislative action was needed. Since 1986, the RFA has issued more than $270 million in low-interest loans and helped thousands of farmers deliver quality, affordable food to Minnesotans.