Text: HCR00119 Text: HCR00121 Text: HCR00100 - HCR00199 Text: HCR Index Bills and Amendments: General Index Bill History: General Index
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PAG LIN 1 1 HOUSE CONCURRENT RESOLUTION NO. 1 2 BY COMMITTEE ON AGRICULTURE 1 3 (SUCCESSOR TO HCR 115) 1 4 A Concurrent Resolution to request that the President 1 5 of the United States and the Congress of the United 1 6 States remove current obstacles which prevent the 1 7 transfer of agricultural land between family members 1 8 participating in Iowa's Beginning Farmer Loan Program 1 9 supported by small issue private activity bonds exempt 1 10 from federal income taxation. 1 11 WHEREAS, the state of Iowa, one of the major 1 12 agricultural states in the United States, has 1 13 traditionally relied upon a system of family farming, 1 14 in which agricultural land and the stewardship of that 1 15 land has been passed down through generations; and 1 16 WHEREAS, this successful system of agriculture in 1 17 which members of a family live and work on the land of 1 18 their grandfathers and grandmothers, and provide food 1 19 and fiber vital to the nation's welfare, is 1 20 increasingly threatened by the cost of acquiring 1 21 agricultural land, improvements, and property; and 1 22 WHEREAS, the establishment of Iowa's Beginning 1 23 Farmer Loan Program has been vital to the effort to 1 24 attract young people into farming, by providing that 1 25 the Iowa Agricultural Development Authority, an agency 1 26 of the Iowa Department of Agriculture and Land 1 27 Stewardship, assists in cooperating with lending 1 28 institutions to provide beginning farmers financing 1 29 for the acquisition of agricultural land, 1 30 improvements, and property; and 2 1 WHEREAS, this effort has helped to alleviate the 2 2 serious shortages of funds in private channels and the 2 3 cost of borrowing money in this state by beginning 2 4 farmers assuming large debts in order to capitalize 2 5 agricultural operations; and 2 6 WHEREAS, Iowa's Beginning Farmer Loan Program is 2 7 supported by small issue private activity bonds 2 8 ("Aggie Bonds") which have been exempt from federal 2 9 taxation; and 2 10 WHEREAS, federal law, including regulations adopted 2 11 by the Internal Revenue Service, prevent these bonds 2 12 from supporting the transfer of agricultural land, 2 13 improvements, and property between family members; and 2 14 WHEREAS, the effect of the federal law, is to 2 15 deprive persons of an opportunity to farm on land held 2 16 within their families simply because of a familial 2 17 relationship which is essential to the structure of 2 18 our system of agricultural production; NOW THEREFORE, 2 19 BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES, THE 2 20 SENATE CONCURRING, That the President of the United 2 21 States and the Congress of the United States remove 2 22 current obstacles which prevent the transfer of 2 23 agricultural land between family members participating 2 24 in Iowa's Beginning Farmer Loan Program; and 2 25 BE IT FURTHER RESOLVED, That copies of this 2 26 Resolution be submitted by the Chief Clerk of the 2 27 House of Representatives to the Secretary of 2 28 Agriculture and the Executive Director of the Iowa 2 29 Agricultural Development Authority; and 2 30 BE IT FURTHER RESOLVED, That copies of this 3 1 Resolution be submitted by the Chief Clerk of the 3 2 House of Representatives to the President of the 3 3 United States, the President of the United States 3 4 Senate, the Speaker of the United States House of 3 5 Representatives, and members of Iowa's congressional 3 6 delegation. 3 7 LSB 4327HV 76 3 8 da/sc/14
Text: HCR00119 Text: HCR00121 Text: HCR00100 - HCR00199 Text: HCR Index Bills and Amendments: General Index Bill History: General Index
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