Iowa General Assembly Banner

 
Text: HF00559                           Text: HF00561
Text: HF00500 - HF00599                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index


Get Version To Print

House File 560

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 425A.2, subsection 4, Code 1995, is
  1  2 amended to read as follows:
  1  3    4.  "Designated person" means one of the following:
  1  4    a.  If the owner is an individual, the designated person
  1  5 includes the owner of the tract or a person related to the
  1  6 owner as, the owner's spouse, parent, grandparent, the owner's
  1  7 child, grandchild, or stepchild, and their spouses, or the
  1  8 owner's relative within the third degree of consanguinity, and
  1  9 the relative's spouse.
  1 10    b.  If the owner is a partnership, a partner, or the
  1 11 partner's spouse.
  1 12    c.  If the owner is a family farm corporation, a family
  1 13 member who is a shareholder of the family farm corporation or
  1 14 the shareholder's spouse.
  1 15    d.  If the owner is an authorized farm corporation, a
  1 16 shareholder who owns at least fifty-one percent of the stock
  1 17 of the authorized farm corporation or the shareholder's
  1 18 spouse.
  1 19    e.  If the owner is an individual who leases the tract to a
  1 20 family farm corporation, a shareholder of the corporation if
  1 21 the combined stock of the family farm corporation owned by the
  1 22 owner of the tract and persons related to the owner as
  1 23 enumerated in paragraph "a" is equal to at least fifty-one
  1 24 percent of the stock of the family farm corporation.
  1 25    f.  If the owner is an individual who leases the tract to a
  1 26 partnership, a partner if the combined partnership interest
  1 27 owned by a designated person as defined in paragraph "a" is
  1 28 equal to at least fifty-one percent of the ownership interest
  1 29 of the partnership.
  1 30    Sec. 2.  This Act takes effect January 1, 1996, and applies
  1 31 to family farm tax credit claims filed on or after that date.  
  1 32 HF 560
  1 33 sc/pk/25
     
Text: HF00559                           Text: HF00561
Text: HF00500 - HF00599                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index
Return To Home Iowa General Assembly

index Search: House Bills and Amendments (76th General Assembly)

© 1996 Cornell College and League of Women Voters of Iowa

Comments? webmaster@legis.state.ia.us.

Last update: Thu Aug 8 15:30:03 CDT 1996
URL: http://www2.legis.state.ia.us/GA/76GA/Legislation/HF/00500/HF00560/960503.html
jhf