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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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