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House Journal: Page 1067: Wednesday, March 29, 1995

Nelson, B.      	Nutt           	Rants          	Renken 
Salton         	Schulte        	Siegrist       	Teig
Thomson        	Tyrrell        	Vande Hoef     	Veenstra
Weidman        	Welter         	Witt           	Van Maanen,
			  Presiding
Absent or not voting, 7:
Brammer        	Brand          	Brauns         	Connors
Grubbs         	McCoy          	Van Fossen 
Amendment H-3535 lost.

Weigel of Chickasaw asked and received unanimous consent to
withdraw amendment H-3376, previously deferred,  filed by him on
March 21, 1995.
Weigel of Chickasaw offered the following amendment H-3424,
previously deferred,  filed by him and moved its adoption:
H-3424
 1     Amend House File 163 as follows:
 2     1.  Page 1, by inserting after line 7 the
 3   following:
 4     "Sec. ___.  Section 9H.1, subsection 3, Code 1995,
 5   is amended to read as follows:
 6     3.  "Authorized farm corporation" means a
 7   corporation other than a family farm corporation
 8   founded for the purpose of farming and the ownership
 9   of agricultural land in which all of the following
10   applies:
11     a.  The stockholders do not exceed twenty-five in
12   number; and.
13     b.  The stockholders are all natural persons or
14   persons acting in a fiduciary capacity for the benefit
15   of natural persons or nonprofit corporations.
16     c.  The revenue of the corporation from rent,
17   royalties, dividends, interest, and annuities does not
18   exceed twenty percent of its gross receipts."
19     2.  Page 2, by inserting after line 17 the
20   following:
21     "Sec. ___.  NEW SECTION.  9H.12  AUTHORIZED FARM
22   CORPORATIONS ESTABLISHED PRIOR TO THE EFFECTIVE DATE
23   OF THIS ACT.
24     An authorized farm corporation established before
25   the effective date of this Act may continue to hold or
26   lease agricultural land as provided prior to the
27   effective date of this Act for as long as the
28   authorized farm corporation continues to hold or lease
29   such agricultural land."
30     3.  By renumbering as necessary.
Roll call was requested by Weigel of Chickasaw and Fallon of
Polk.

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 1)

© 1995 Cornell College and League of Women Voters of Iowa

Comments? hjourn@legis.iowa.gov.

Last update: Sun Jan 14 21:05:02 CST 1996
URL: /DOCS/GA/76GA/Session.1/HJournal/01000/01067.html
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