Text: H09195 Text: H09197 Text: H09100 - H09199 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend Senate File 2415, as amended, passed, and 1 2 reprinted by the Senate, as follows: 1 3 #1. Page 1, by inserting after line 20, the 1 4 following: 1 5 "__. A need exists to support the production of 1 6 agricultural commodities and the processing and 1 7 marketing of agricultural products which are produced 1 8 by using biological techniques for the development of 1 9 specialized plant or animal characteristics for 1 10 beneficial nutritional, commercial, or industrial 1 11 purposes." 1 12 #2. Page 1, by inserting after line 34, the 1 13 following: 1 14 "__. A need exists for additional sources of 1 15 financing for ventures designed to support the 1 16 production, processing, and marketing of high value 1 17 agricultural products using biological techniques 1 18 which create increasingly high value agricultural 1 19 products for consumers around the world." 1 20 #3. Page 2, line 2, by striking the words 1 21 "agricultural producer-led" and inserting the 1 22 following: "Iowa agricultural industry". 1 23 #4. Page 3, by striking lines 24 through 35 and 1 24 inserting the following: 1 25 "(2) A family farm entity if any of the following 1 26 individuals is actively engaged in agricultural 1 27 production: 1 28 (a) A shareholder and an officer, director, or 1 29 employee of a family farm corporation. 1 30 (b) A member or manager of a family farm limited 1 31 liability company. 1 32 (c) A general partner of a family farm limited 1 33 partnership. 1 34 (d) A beneficiary of a family trust. 1 35 (3) A networking farmers entity." 1 36 #5. Page 4, by inserting after line 2, the 1 37 following: 1 38 "__. "Biotechnology enterprise" means an 1 39 enterprise organized under the laws of this state 1 40 using biological techniques for the development of 1 41 specialized plant or animal characteristics for 1 42 beneficial nutritional, commercial, or industrial 1 43 purposes." 1 44 #6. Page 4, by inserting after line 9 the 1 45 following: 1 46 " . "Family farm entity" means a family farm 1 47 corporation, family farm limited liability company, 1 48 family farm limited partnership, or family trust as 1 49 defined in section 9H.1." 1 50 #7. Page 4, by striking lines 15 and 16, and 2 1 inserting the following: 2 2 "___. "Iowa agricultural industry venture" means 2 3 an enterprise involving any of the following: 2 4 a. Agricultural producers investing in a new". 2 5 #8. Page 4, line 21, by striking the word "a." and 2 6 inserting the following: "(1)". 2 7 #9. Page 4, line 24, by striking the word "b." and 2 8 inserting the following: "(2)". 2 9 #10. Page 4, line 26, by striking the word "c." 2 10 and inserting the following: "(3)". 2 11 #11. Page 4, line 28, by striking the word "d." 2 12 and inserting the following: "(4)". 2 13 #12. Page 4, by inserting after line 30 the 2 14 following: 2 15 "b. An agricultural biotechnology enterprise 2 16 located in this state, if the purpose of research and 2 17 application of biological techniques conducted by the 2 18 enterprise is to accomplish all of the following: 2 19 (1) The creation and retention of wealth in this 2 20 state. 2 21 (2) Increasing the value of agricultural 2 22 commodities." 2 23 #13. Page 4, by inserting after line 34 the 2 24 following: 2 25 " . "Networking farmers entity" means the same 2 26 as defined in section 10.1, as enacted by 1998 Iowa 2 27 Acts, House File 2335." 2 28 #14. Page 5, line 3, by striking the words "as 2 29 defined in section 10.1". 2 30 #15. Page 6, by inserting after line 6 the 2 31 following: 2 32 "___. It is the intent of the general assembly and 2 33 the purpose of this division that the state encourage 2 34 Iowa agricultural industry ventures which promote the 2 35 research and application of biological techniques for 2 36 the development of specialized plant or animal 2 37 characteristics for beneficial nutritional, 2 38 commercial, or industrial purposes." 2 39 #16. Page 8, line 7, by inserting after the figure 2 40 "3." the following: "a." 2 41 #17. Page 8, by striking lines 10 through 27 and 2 42 inserting the following: "shall be elected by the 2 43 members of an appointment committee. The members of 2 44 the appointment committee shall be appointed by the 2 45 economic development board. The initial board of 2 46 directors shall consist of seven members. The members 2 47 of the appointment committee shall include persons who 2 48 have an expertise in areas of banking, agricultural 2 49 lending, business development, agricultural production 2 50 and processing, seed and venture capital investment, 3 1 and other areas of expertise as deemed appropriate by 3 2 the interim board of directors. 3 3 b. The members of the appointment committee shall 3 4 exercise due care to assure that persons appointed to 3 5 the initial board of directors have the requisite 3 6 financial experience necessary in order to carry out 3 7 the duties of the corporation as established in this 3 8 division, including in areas related to agricultural 3 9 lending, commercial banking, and investment 3 10 management. 3 11 c. Upon the election of the initial board of 3 12 directors, the terms of the members of the appointment 3 13 committee shall expire. 3 14 d. The department shall assist the incorporators 3 15 and the appointment committee in". 3 16 #18. Page 10, line 13, by striking the words "may 3 17 loan all or part" and inserting the following: "shall 3 18 loan all". 3 19 #19. Page 10, line 19, by inserting after the word 3 20 "desirable" the following: ", including any 3 21 restrictions on the subordination of the moneys 3 22 loaned". 3 23 #20. Page 10, by inserting after line 28 the 3 24 following: 3 25 " . The corporation shall not expend moneys 3 26 originating from the state, including moneys loaned 3 27 under this section, on political activity or on any 3 28 attempt to influence legislation." 3 29 #21. Page 12, line 32, by inserting after the word 3 30 "corporation." the following: "If the eligible 3 31 recipient is an agricultural producer as provided in 3 32 section 15E.210, the agreement shall not be executed 3 33 unless the agricultural producer holds voting common 3 34 stock in the corporation equal to at least five 3 35 percent of the financing provided to the agricultural 3 36 producer pursuant to the agreement." 3 37 #22. Page 13, by striking lines 11 and 12 and 3 38 inserting the following: 3 39 "___. To the extent feasible and fiscally prudent, 3 40 the corporation must maintain a portfolio which is 3 41 diversified among the various types of agricultural 3 42 commodities and agribusiness. 3 43 ___. Not more than seventy-five percent of moneys 3 44 originating from the state, including moneys loaned to 3 45 the corporation pursuant to this section, may be used 3 46 to finance any one Iowa agricultural industry 3 47 venture." 3 48 #23. Page 13, by striking lines 26 through 33. 3 49 #24. Page 14, line 28, by striking the words 3 50 "general fund of the state" and inserting the 4 1 following: "road use tax fund created pursuant to 4 2 section 312.1". 4 3 #25. Page 15, line 1, by striking the words "must 4 4 participate" and inserting the following: 4 5 "participating". 4 6 #26. Page 15, by striking lines 11 and 12 and 4 7 inserting the following: 4 8 "b. An agricultural products processor which 4 9 participates as part of an Iowa". 4 10 #27. By striking page 15, line 30, through page 4 11 16, line 1, and inserting the following: "produced in 4 12 this state. However, the corporation may provide 4 13 financing, if its board of directors determines that 4 14 adequate supplies of the commodity are not available 4 15 for processing as otherwise required in this 4 16 subparagraph subdivision." 4 17 #28. Page 16, by inserting before line 2 the 4 18 following: 4 19 "___. An agricultural biotechnology enterprise 4 20 which qualifies as an Iowa agricultural industry 4 21 venture as provided according to the terms of an 4 22 agreement executed by the agricultural biotechnology 4 23 enterprise and the corporation, if the board of 4 24 directors for the corporation determines that the 4 25 enterprise would advance the intent and purposes set 4 26 out in section 15E.203." 4 27 #29. Page 16, by inserting after line 21 the 4 28 following: 4 29 "Sec. ___. Section 423.24, Code Supplement 1997, 4 30 is amended by inserting the following new unnumbered 4 31 paragraph before subsection 1: 4 32 NEW UNNUMBERED PARAGRAPH. Except as otherwise 4 33 provided in section 312.2, subsection 15, all revenues 4 34 derived from the use tax on motor vehicles, trailers, 4 35 and motor vehicle accessories and equipment as 4 36 collected pursuant to sections 423.7 and 423.7A shall 4 37 be deposited and credited to the road use tax fund and 4 38 shall be used exclusively for the construction 4 39 maintenance, and supervision of public highways. 4 40 Sec. ___. Section 423.24, subsection 1, unnumbered 4 41 paragraph 1, Code Supplement 1997, is amended to read 4 42 as follows: 4 43Eighty percent ofNotwithstanding any provision of 4 44 this section which provides that all revenues derived 4 45 from the use tax on motor vehicles, trailers, and 4 46 motor vehicle accessories and equipment as collected 4 47 pursuant to section 423.7 and section 423.7A shall be 4 48 deposited and credited to the road use tax fund, 4 49 eighty percent of the revenues shall be deposited and 4 50 credited as follows:" 5 1 #30. Page 17, by inserting after line 4 the 5 2 following: 5 3 "Sec. ___. Section 423.24, subsection 1, paragraph 5 4 c, Code Supplement 1997, is amended by striking the 5 5 paragraph. 5 6 Sec. ___. Section 423.24, subsection 2, Code 5 7 Supplement 1997, is amended to read as follows: 5 8 2.Twenty percent ofNotwithstanding any other 5 9 provision of this section that provides that all 5 10 revenue derived from the use tax on motor vehicles, 5 11 trailers, and motor vehicle accessories and equipment 5 12 as collected pursuant to section 423.7 shall be 5 13 deposited and credited to the road use tax fund, 5 14 twenty percent of the revenues shall be credited and 5 15 deposited as follows: one-half to the road use tax 5 16 fund and one-half to the primary road fund to be used 5 17 for the commercial and industrial highway network, 5 18 except to the extent that the department directs that 5 19 moneys are deposited in the highway safety patrol fund 5 20 created in section 80.41 to fund the appropriations 5 21 made from the highway safety patrol fund in accordance 5 22 with the provisions of section 80.41. The department 5 23 shall determine the amount of moneys to be credited 5 24 under this subsection to the highway safety patrol 5 25 fund and shall deposit that amount into the highway 5 26 safety patrol fund. 5 27 Sec. ___. NEW SECTION. 423.24A REIMBURSEMENT FOR 5 28 THE PRIMARY ROAD FUND. 5 29 The department may credit to the primary road fund 5 30 any amount of revenues derived from the use tax on 5 31 motor vehicles, trailers, and motor vehicles 5 32 accessories and equipment as collected pursuant to 5 33 sections 423.7 and 423.7A to the extent necessary to 5 34 reimburse that fund for the expenditures not otherwise 5 35 eligible to be made from the primary road fund, which 5 36 are made for repairing, improving, and maintaining 5 37 bridges over the rivers bordering the state. 5 38 Expenditures for those portions of bridges within 5 39 adjacent states may be included when they are made 5 40 pursuant to an agreement entered into under section 5 41 313.63, 313A.34, or 314.10." 5 42 #31. Page 17, by striking lines 18 through 23. 5 43 #32. Page 17, by inserting before line 24 the 5 44 following: 5 45 "Sec. ___. SEVERABILITY. If any provision of this 5 46 Act or the application of this Act to any person or 5 47 circumstance is held invalid, the invalidity shall not 5 48 affect other provisions or applications of this Act 5 49 which shall be given effect without the invalid 5 50 provision or application, and to this end the 6 1 provisions of this Act are severable." 6 2 #33. By renumbering, relettering, or redesignating 6 3 and correcting internal references as necessary. 6 4 6 5 6 6 6 7 COMMITTEE ON APPROPRIATIONS 6 8 MILLAGE of Scott, Chairperson 6 9 SF 2415.319 77 6 10 da/cf/28
Text: H09195 Text: H09197 Text: H09100 - H09199 Text: H Index Bills and Amendments: General Index Bill History: General Index
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