Text: HF02233 Text: HF02235 Text: HF02200 - HF02299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
Get Version To Print
PAG LIN 1 1 Section 1. Section 15.327, Code 1995, is amended by adding 1 2 the following new subsection: 1 3 NEW SUBSECTION. 3A. "Economic development area" means a 1 4 site or sites designated by the department for the purpose of 1 5 attracting an eligible business to locate facilities within 1 6 the state. 1 7 Sec. 2. NEW SECTION. 15.331B EXEMPTION FROM LAND 1 8 OWNERSHIP RESTRICTIONS FOR NONRESIDENT ALIENS. 1 9 1. The eligible business, to the extent the eligible 1 10 business is not actively engaged in farming within the 1 11 economic development area, may acquire and own up to one 1 12 thousand acres of land in the economic development area, 1 13 notwithstanding the provisions of section 567.3 if the 1 14 eligible business has been designated an exempt business under 1 15 subsection 3. An eligible business may lease up to an 1 16 additional two hundred eighty acres of land in the economic 1 17 development area. 1 18 The eligible business may receive one or more one-year 1 19 extensions of the time limit for complying with the 1 20 requirements of section 567.4. Each extension must be 1 21 approved by the community prior to approval by the department. 1 22 The eligible business shall comply with the remaining 1 23 provisions of chapter 567 to the extent they do not conflict 1 24 with this subsection. 1 25 2. "Actively engaged in farming" means any of the 1 26 following: 1 27 a. Inspecting agricultural production activities within 1 28 the economic development area periodically and furnishing at 1 29 least half of the value of the tools and paying at least half 1 30 the direct cost of production. 1 31 b. Regularly and frequently making or taking an important 1 32 part in making management decisions substantially contributing 1 33 to or affecting the success of the farm operations within the 1 34 economic development area. 1 35 c. Performing physical work which significantly 2 1 contributes to crop or livestock production. 2 2 3. An eligible business shall not receive the exemption 2 3 under this section unless it has applied to be designated an 2 4 exempt business by July 1, 1998. 2 5 4. The department of economic development shall monitor 2 6 the activities of eligible businesses receiving the exemption 2 7 under this section and report to the general assembly by 2 8 December 15 of each year. 2 9 5. An eligible business that complies with this section 2 10 shall be considered to be acquiring, owning, or leasing 2 11 agricultural land for immediate or potential use in nonfarming 2 12 purposes under section 9H.4, subsection 4. 2 13 HF 2234 2 14 mk/pk/25
Text: HF02233 Text: HF02235 Text: HF02200 - HF02299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
© 1996 Cornell College and League of Women Voters of Iowa
Comments? webmaster@legis.iowa.gov.
Last update: Thu Jun 6 15:42:36 CDT 1996
URL: /DOCS/GA/76GA/Legislation/HF/02200/HF02234/960424.html
jhf