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PAG LIN
1 1 HOUSE CONCURRENT RESOLUTION NO.
1 2 BY WEIGEL
1 3 A Concurrent Resolution to request that the President
1 4 of the United States and the Congress of the United
1 5 States remove current obstacles which prevent the
1 6 transfer of agricultural land between family members
1 7 participating in Iowa's Beginning Farmer Loan Program
1 8 supported by small issue private activity bonds exempt
1 9 from federal income taxation.
1 10 WHEREAS, the state of Iowa, one of the major
1 11 agricultural states in the United States, has
1 12 traditionally relied upon a system of family farming,
1 13 in which agricultural land and the stewardship of that
1 14 land has been passed down through generations; and
1 15 WHEREAS, this successful system of agriculture in
1 16 which members of a family live and work on the land of
1 17 their grandfathers and grandmothers, and provide food
1 18 and fiber vital to the nation's welfare, is
1 19 increasingly threatened by the cost of acquiring
1 20 agricultural land, improvements, and property; and
1 21 WHEREAS, the establishment of Iowa's Beginning
1 22 Farmer Loan Program has been vital to the effort to
1 23 attract young people into farming, by providing that
1 24 the Iowa Agricultural Development Authority, an agency
1 25 of the Iowa Department of Agriculture and Land
1 26 Stewardship, assists in cooperating with lending
1 27 institutions to provide beginning farmers financing
1 28 for the acquisition of agricultural land,
1 29 improvements, and property; and
1 30 WHEREAS, this effort has helped to alleviate the
2 1 serious shortages of funds in private channels and the
2 2 cost of borrowing money in this state by beginning
2 3 farmers assuming large debts in order to capitalize
2 4 agricultural operations; and
2 5 WHEREAS, Iowa's Beginning Farmer Loan Program is
2 6 supported by small issue private activity bonds
2 7 ("Aggie Bonds") which have been exempt from federal
2 8 taxation; and
2 9 WHEREAS, federal law, including regulations adopted
2 10 by the Internal Revenue Service, prevent these bonds
2 11 from supporting the transfer of agricultural land,
2 12 improvements, and property between family members; and
2 13 WHEREAS, the effect of the federal law, is to
2 14 deprive persons of an opportunity to farm on land held
2 15 within their families simply because of a familial
2 16 relationship which is essential to the structure of
2 17 our system of agricultural production; NOW THEREFORE,
2 18 BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES, THE
2 19 SENATE CONCURRING, That the President of the United
2 20 States and the Congress of the United States remove
2 21 current obstacles which prevent the transfer of
2 22 agricultural land between family members participating
2 23 in Iowa's Beginning Farmer Loan Program; and
2 24 BE IT FURTHER RESOLVED, That copies of this
2 25 Resolution be submitted by the Chief Clerk of the
2 26 House of Representatives to the Secretary of
2 27 Agriculture and the Executive Director of the Iowa
2 28 Agricultural Development Authority; and
2 29 BE IT FURTHER RESOLVED, That copies of this
2 30 Resolution be submitted by the Chief Clerk of the
3 1 House of Representatives to the President of the
3 2 United States, the President of the United States
3 3 Senate, the Speaker of the United States House of
3 4 Representatives, and members of Iowa's congressional
3 5 delegation.
3 6 LSB 4327HH 76
3 7 da/sc/14.1
Text: HCR00114 Text: HCR00116 Text: HCR00100 - HCR00199 Text: HCR Index Bills and Amendments: General Index Bill History: General Index
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