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Volume 45, Number 03, August 2013 >
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|Title: ||Tax-Exempt Bond Financing for Beginning and Low-Equity Farmers: The Case of ‘Aggie Bonds’|
|Authors: ||Williamson, James M.|
Katchova, Ani L.
|Editors: ||Bosch, Darrell J.|
Marchant, Mary A.
|Keywords: ||Aggie Bonds|
|JEL Codes: ||Q14|
|Issue Date: ||2013-08-01|
|Series/Report no.: ||Volume 45|
|Abstract: ||The ‘‘Aggie Bond’’ program was established in the 1980s to provide beginning and lowequity
farmers access to capital. The bonds, which pay tax-exempt interest, may be used by
qualifying famers for purchases of farm real estate and equipment. Using Aggie Bond data
collected from states and Census of Agriculture data spanning 25 years, we examine whether
the program has had an impact on farm entrance, land ownership, and the size of operation.
We do not find strong evidence that the program led to an increase in the proportion of
beginning farmers; however, we find limited evidence the program helped beginning farmers
become full land owners as well as increased the rate of growth in the proportion of beginning
farmers who are full land owners.|
|Institution/Association: ||Journal of Agricultural and Applied Economics> Volume 45, Number 03, August 2013|
|Total Pages: ||12|
|From Page: ||485|
|To Page: ||496|
|Collections:||Volume 45, Number 03, August 2013|
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