Missouri Governor Jay Nixon signed legislation today that will subsidize up to 70% of dairy margin insurance premiums, or up to 34¢/cwt, offered through the federal farm bill.
The bill passed the Missouri Senate 31-2 and the House by a vote of 110-49 earlier this spring.
The bill will also provide $5,000 college scholarships for up to 80 students who pledge to work in the dairy industry.
The money, however, must now go through the state’s appropriations process. Because of the Missouri’s budgeting process, it’s likely funds won’t be available until 2016.