Bill Summary for S 554 (2025-2026)

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Summary date: 

May 6 2025

Bill Information:

View NCGA Bill Details2025-2026 Session
Senate Bill 554 (Public) Filed Tuesday, March 25, 2025
AN ACT TO ENACT THE FARMERS PROTECTION ACT TO PREVENT DISCRIMINATION IN FINANCING AGAINST FARMERS.
Intro. by B. Newton, Barnes.

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Bill summary

Senate committee substitute to the 1st edition makes the following changes.

Discards the first edition’s proposed text of GS 53C-6-21 and replaces it with a definition of “agriculture producer,” a prohibition on banks denying or cancelling service for agricultural producers based on greenhouse gas emissions or use of fossil-fuel derived fertilizer or powered machinery, and directs the Commissioner of Banks to monitor for compliance and take enforcement actions against banks that violate the statute.

Amends proposed GS 54-109.23 by removing the requirement for credit unions to submit the report provided in GS 53C-6-21(d) from the text of the previous edition. Makes conforming changes.