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Text: HSB00562                          Text: HSB00564
Text: HSB00500 - HSB00599               Text: HSB Index
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House Study Bill 563

Conference Committee Text

PAG LIN
  1  1    Section 1.  NEW SECTION.  15.331B  EXEMPTION FROM LAND
  1  2 OWNERSHIP RESTRICTIONS FOR NONRESIDENT ALIENS.
  1  3    1.  The eligible business and a supporting business, to the
  1  4 extent the eligible business or the supporting business is not
  1  5 actively engaged in farming within the economic development
  1  6 area, may acquire, own, and lease land in the economic
  1  7 development area, notwithstanding the provisions of sections
  1  8 9H.4, 9H.5, and 567.3, and shall be exempt from the
  1  9 requirements of section 567.4.  The eligible business and
  1 10 supporting business shall comply with the remaining provisions
  1 11 of chapters 9H and 567 to the extent they do not conflict with
  1 12 this subsection.
  1 13    2.  "Actively engaged in farming" means any of the
  1 14 following:
  1 15    a.  Inspecting agricultural production activities within
  1 16 the economic development area periodically and furnishing at
  1 17 least half of the value of the tools and paying at least half
  1 18 the direct cost of production.
  1 19    b.  Regularly and frequently making or taking an important
  1 20 part in making management decisions substantially contributing
  1 21 to or affecting the success of the farm operations within the
  1 22 economic development area.
  1 23    c.  Performing physical work which significantly
  1 24 contributes to crop or livestock production.  
  1 25                           EXPLANATION
  1 26    This bill provides that an eligible business and supporting
  1 27 businesses under the new jobs and income program are exempt
  1 28 from the limitations on ownership by foreign corporations of
  1 29 agricultural land in Iowa so long as the business owning the
  1 30 land is not actively engaged in farming.  
  1 31 LSB 4260HC 76
  1 32 mk/jj/8
     

Text: HSB00562                          Text: HSB00564
Text: HSB00500 - HSB00599               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index

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