Committee advances bill giving beginning farmers two extra months to use CADAA allocations
April 20, 2026 | 2026 Legislature CO, Colorado
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The House Finance Committee voted unanimously to forward House Bill 1341 to the Committee of the Whole, recording a 10–0 vote with one member excused. The bill would move the Colorado Agricultural Development Authority’s (CADAA) deadline for returning unused tax-exempt allocations from September 15 to November 15, allowing more time for agricultural real-estate transactions to close.
Representative Johnson, the bill sponsor, said the two-month extension is aimed at reducing the reliance on bridge loans and helping beginning farmers and ranchers complete purchases without incurring higher interim costs. Jim Reubing, director of the Colorado Agricultural Development Authority, told the committee the September 15 deadline often forces approved applicants to seek higher-cost interim financing because closings commonly slip into the fall; the November 15 date was negotiated with the Department of Local Affairs to protect allocations while easing timing pressure.
Madeline Robertson of the Rocky Mountain Farmers Union and Colorado Farm Bureau and Jake Chamberlain, a community bank ag lender, testified in support, saying the change would reduce additional closing costs, uncertainty and financial risk for beginning producers. Chamberlain recounted examples where approved borrowers had to close with conventional financing at higher rates because the CADAA allocation could not be held past Sept. 15. Reubing said the proposal does not change allocation levels and that any unused funds would still transfer to CHFA under current rules.
Committee members asked whether the November date aligns with agricultural and banking calendars; witnesses said the date was selected after consultation with DOLA and banking partners and that additional flexibility could be explored in the future, but the two-month extension will meaningfully improve outcomes for many beginning producers.
The Finance Committee motion to send HB 1341 to the Committee of the Whole passed on a recorded vote of 10–0 with one member excused.
Representative Johnson, the bill sponsor, said the two-month extension is aimed at reducing the reliance on bridge loans and helping beginning farmers and ranchers complete purchases without incurring higher interim costs. Jim Reubing, director of the Colorado Agricultural Development Authority, told the committee the September 15 deadline often forces approved applicants to seek higher-cost interim financing because closings commonly slip into the fall; the November 15 date was negotiated with the Department of Local Affairs to protect allocations while easing timing pressure.
Madeline Robertson of the Rocky Mountain Farmers Union and Colorado Farm Bureau and Jake Chamberlain, a community bank ag lender, testified in support, saying the change would reduce additional closing costs, uncertainty and financial risk for beginning producers. Chamberlain recounted examples where approved borrowers had to close with conventional financing at higher rates because the CADAA allocation could not be held past Sept. 15. Reubing said the proposal does not change allocation levels and that any unused funds would still transfer to CHFA under current rules.
Committee members asked whether the November date aligns with agricultural and banking calendars; witnesses said the date was selected after consultation with DOLA and banking partners and that additional flexibility could be explored in the future, but the two-month extension will meaningfully improve outcomes for many beginning producers.
The Finance Committee motion to send HB 1341 to the Committee of the Whole passed on a recorded vote of 10–0 with one member excused.
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