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House Journal: Page 544: Tuesday, March 5, 1996

12   is amended by adding the following new paragraph:
13     NEW PARAGRAPH.  c.  That there is an increasing
14   expansion of nontraditional livestock production which
15   promises new opportunities for agricultural animal
16   producers, creates new value-added products, and
17   ensures greater diversity in agricultural production.
18     Sec. ___.  Section 12.33, subsections 2 and 3, Code
19   1995, are amended to read as follows:
20     2.  The linked investments for tomorrow program
21   provided for in this division is intended to provide
22   statewide availability of lower cost funds for lending
23   purposes that will stimulate existing or encourage new
24   businesses in the area of producing, processing, or
25   marketing horticultural or crops, nontraditional
26   crops, or nontraditional livestock, including but not
27   limited to the breeding or training of horses and dogs
28   which are involved in racing at a facility licensed
29   pursuant to chapter 99D.
30     3.  It is the public policy of the state through
31   the linked investments for tomorrow program to create
32   an availability of lower cost funds to inject needed
33   capital into the business of producing, processing, or
34   marketing horticultural crops, or nontraditional
35   crops, or nontraditional livestock, including but not
36   limited to the breeding or training of horses and dogs
37   which are involved in racing at a facility licensed
38   pursuant to chapter 99D."
39     3.  Page 1, by striking lines 27 through 31 and
40   inserting the following:
41     "2.  The treasurer shall adopt rules pursuant to
42   chapter 17A to implement this division including, but
43   not limited to, rules identifying horticultural crops,
44   and nontraditional crops, and nontraditional
45   livestock, including but not limited to the breeding
46   or training of horses and dogs which are involved in
47   racing at a facility licensed pursuant to chapter 99D,
48   for which the linked investments may be loaned."
49     4.  Page 2, by striking lines 13 through 24 and
50   inserting the following:

Page 2  

 1     "1. 2.  An eligible lending institution that
 2   desires to receive a linked investment shall accept
 3   and review applications for loans from eligible
 4   borrowers.  The lending institution shall apply all
 5   usual lending standards to determine the credit
 6   worthiness of each eligible borrower.  Loan
 7   applications shall be for the purchase or lease of
 8   land, machinery, equipment, seed, fertilizer, direct
 9   marketing facilities, or new or expanding production,
10   processing, or marketing facilities for horticultural
11   crops, or nontraditional crops, or
nontraditional

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 2)

© 1996 Cornell College and League of Women Voters of Iowa

Comments? hjourn@legis.iowa.gov.

Last update: Wed Mar 6 13:25:03 CST 1996
URL: /DOCS/GA/76GA/Session.2/HJournal/00500/00544.html
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