90-9-502. (Temporary) Eligibility -- amount of loan repayment assistance. (1) A farmer is qualified for loan repayment assistance if the farmer:
(a) is a resident of Montana whose primary occupation is to operate a farm;
(b) has graduated from a postsecondary institution as defined in 20-26-603 with an associate degree or a baccalaureate degree;
[(c) has undertaken the primary occupation of operating a farm within the applicable time period specified in 90-9-103(8)(c);] and
(d) commits to operate the farm for at least 5 years after applying for loan repayment assistance pursuant to this part.
(2) A farmer who is qualified pursuant to subsection (1) is eligible for loan repayment assistance for up to a maximum of 5 years.
(3) The total amount of loan repayment assistance for an eligible qualified farmer may not exceed 50% of the total amount of educational loans outstanding on the application date for loan repayment assistance.
(4) A farmer who qualifies for and receives loan repayment assistance shall repay that assistance if the farmer ceases to operate the farm before the end of the 5-year commitment. (Terminates June 30, 2029--sec. 16, Ch. 439, L. 2019.)
History: En. Sec. 2, Ch. 439, L. 2019.
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