Text: HF02233 Text: HF02235 Text: HF02200 - HF02299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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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
Iowa General Assembly
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