Text: S05752 Text: S05754 Text: S05700 - S05799 Text: S 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. A need also exists to support biomass 1 12 energy sources. 1 13 ___. A need exists to support forests and the 1 14 growth and maintenance of forests in this state, 1 15 including the production of agricultural commodities 1 16 which are forest products as provided in section 1 17 15E.202." 1 18 #2. Page 1, by inserting after line 34, the 1 19 following: 1 20 "__. A need exists for additional sources of 1 21 financing for ventures designed to support the 1 22 production, processing, and marketing of high value 1 23 agricultural products using biological techniques 1 24 which create increasingly high value agricultural 1 25 products for consumers around the world." 1 26 #3. Page 2, line 2, by striking the words 1 27 "agricultural producer-led" and inserting the 1 28 following: "Iowa agricultural industry". 1 29 #4. Page 3, by striking lines 24 through 35 and 1 30 inserting the following: 1 31 "(2) A family farm entity if any of the following 1 32 individuals is actively engaged in agricultural 1 33 production: 1 34 (a) A shareholder and an officer, director, or 1 35 employee of a family farm corporation. 1 36 (b) A member or manager of a family farm limited 1 37 liability company. 1 38 (c) A general partner of a family farm limited 1 39 partnership. 1 40 (d) A beneficiary of a family trust. 1 41 (3) A networking farmers entity." 1 42 #5. Page 4, by inserting after line 2, the 1 43 following: 1 44 "__. "Biotechnology enterprise" means an 1 45 enterprise organized under the laws of this state 1 46 using biological techniques for the development of 1 47 specialized plant or animal characteristics for 1 48 beneficial nutritional, commercial, or industrial 1 49 purposes." 1 50 #6. Page 4, by inserting after line 9 the 2 1 following: 2 2 " . "Family farm entity" means a family farm 2 3 corporation, family farm limited liability company, 2 4 family farm limited partnership, or family trust as 2 5 defined in section 9H.1." 2 6 #7. Page 4, by striking lines 15 and 16, and 2 7 inserting the following: 2 8 "___. "Iowa agricultural industry venture" means 2 9 an enterprise involving any of the following: 2 10 a. Agricultural producers investing in a new". 2 11 #8. Page 4, line 21, by striking the word "a." and 2 12 inserting the following: "(1)". 2 13 #9. Page 4, line 24, by striking the word "b." and 2 14 inserting the following: "(2)". 2 15 #10. Page 4, line 26, by striking the word "c." 2 16 and inserting the following: "(3)". 2 17 #11. Page 4, line 28, by striking the word "d." 2 18 and inserting the following: "(4)". 2 19 #12. Page 4, by inserting after line 30 the 2 20 following: 2 21 "b. An agricultural biotechnology enterprise 2 22 located in this state, if the purpose of research and 2 23 application of biological techniques conducted by the 2 24 enterprise is to accomplish all of the following: 2 25 (1) The creation and retention of wealth in this 2 26 state. 2 27 (2) Increasing the value of agricultural 2 28 commodities." 2 29 #13. Page 4, by inserting after line 34 the 2 30 following: 2 31 " . "Networking farmers entity" means the same 2 32 as defined in section 10.1, as enacted by 1998 Iowa 2 33 Acts, House File 2335." 2 34 #14. Page 5, line 3, by striking the words "as 2 35 defined in section 10.1". 2 36 #15. Page 6, by inserting after line 6 the 2 37 following: 2 38 "___. It is the intent of the general assembly and 2 39 the purpose of this division that the state encourage 2 40 Iowa agricultural industry ventures which promote the 2 41 research and application of biological techniques for 2 42 the development of specialized plant or animal 2 43 characteristics for beneficial nutritional, 2 44 commercial, or industrial purposes." 2 45 #16. Page 7, by inserting after line 14 the 2 46 following: 2 47 "___. A director of the corporation's board of 2 48 directors shall not serve for more than seven 2 49 consecutive years as a board director." 2 50 #17. Page 8, line 7, by inserting after the figure 3 1 "3." the following: "a." 3 2 #18. Page 8, by striking lines 10 through 27 and 3 3 inserting the following: "shall be elected by the 3 4 members of an appointment committee. The members of 3 5 the appointment committee shall be appointed by the 3 6 economic development board. The initial board of 3 7 directors shall consist of seven members. The members 3 8 of the appointment committee shall include persons who 3 9 have an expertise in areas of banking, agricultural 3 10 lending, business development, agricultural production 3 11 and processing, seed and venture capital investment, 3 12 and other areas of expertise as deemed appropriate by 3 13 the interim board of directors. 3 14 b. The members of the appointment committee shall 3 15 exercise due care to assure that persons appointed to 3 16 the initial board of directors have the requisite 3 17 financial experience necessary in order to carry out 3 18 the duties of the corporation as established in this 3 19 division, including in areas related to agricultural 3 20 lending, commercial banking, and investment 3 21 management. 3 22 c. Upon the election of the initial board of 3 23 directors, the terms of the members of the appointment 3 24 committee shall expire. 3 25 d. The department shall assist the incorporators 3 26 and the appointment committee in". 3 27 #19. Page 9, by inserting after line 7 the 3 28 following: 3 29 "In selecting projects to receive financing, it is 3 30 the intent of the general assembly that the 3 31 corporation seek projects with wage, benefit, and work 3 32 safety plans which improve the quality of employment 3 33 in the state and which would not displace employees of 3 34 existing Iowa agricultural industry ventures." 3 35 #20. Page 10, line 13, by striking the words "may 3 36 loan all or part" and inserting the following: "shall 3 37 loan all". 3 38 #21. Page 10, line 19, by inserting after the word 3 39 "desirable" the following: ", including any 3 40 restrictions on the subordination of the moneys 3 41 loaned". 3 42 #22. Page 10, by inserting after line 28 the 3 43 following: 3 44 " . The corporation shall not expend moneys 3 45 originating from the state, including moneys loaned 3 46 under this section, on political activity or on any 3 47 attempt to influence legislation." 3 48 #23. Page 10, line 30, by striking the word 3 49 "either" and inserting the following: "any". 3 50 #24. Page 11, by inserting after line 23 the 4 1 following: 4 2 "___. A member of the economic development board, 4 3 an employee of the department of economic development, 4 4 an elected state official, or any director or other 4 5 officer or an employee of the corporation." 4 6 #25. Page 12, by striking lines 25 through 28 and 4 7 inserting the following: "articles shall provide that 4 8 an audit of the corporation must be conducted each 4 9 year for the preceding year by a certified public 4 10 accountant licensed pursuant to chapter 542C. The 4 11 auditor of state may audit the books and accounts of 4 12 the corporation at any time. The results of the 4 13 annual audit and any audit for the current year 4 14 conducted by the auditor of state shall be included as 4 15 part of the report." 4 16 #26. Page 12, line 32, by inserting after the word 4 17 "corporation." the following: "If the eligible 4 18 recipient is an agricultural producer as provided in 4 19 section 15E.210, the agreement shall not be executed 4 20 unless the agricultural producer holds voting common 4 21 stock in the corporation equal to at least five 4 22 percent of the financing provided to the agricultural 4 23 producer pursuant to the agreement." 4 24 #27. Page 13, by striking lines 11 and 12 and 4 25 inserting the following: 4 26 "___. To the extent feasible and fiscally prudent, 4 27 the corporation must maintain a portfolio which is 4 28 diversified among the various types of agricultural 4 29 commodities and agribusiness. 4 30 ___. Not more than seventy-five percent of moneys 4 31 originating from the state, including moneys loaned to 4 32 the corporation pursuant to this section, may be used 4 33 to finance any one Iowa agricultural industry 4 34 venture." 4 35 #28. Page 13, by striking lines 26 through 33. 4 36 #29. Page 14, line 28, by striking the words 4 37 "general fund of the state" and inserting the 4 38 following: "road use tax fund created pursuant to 4 39 section 312.1". 4 40 #30. Page 15, line 1, by striking the words "must 4 41 participate" and inserting the following: 4 42 "participating". 4 43 #31. Page 15, by striking lines 11 and 12 and 4 44 inserting the following: 4 45 "b. An agricultural products processor which 4 46 participates as part of an Iowa". 4 47 #32. By striking page 15, line 30, through page 4 48 16, line 1, and inserting the following: "produced in 4 49 this state. However, the corporation may provide 4 50 financing, if its board of directors determines that 5 1 adequate supplies of the commodity are not available 5 2 for processing as otherwise required in this 5 3 subparagraph subdivision." 5 4 #33. Page 16, by inserting before line 2 the 5 5 following: 5 6 "___. An agricultural biotechnology enterprise 5 7 which qualifies as an Iowa agricultural industry 5 8 venture as provided according to the terms of an 5 9 agreement executed by the agricultural biotechnology 5 10 enterprise and the corporation, if the board of 5 11 directors for the corporation determines that the 5 12 enterprise would advance the intent and purposes set 5 13 out in section 15E.203." 5 14 #34. Page 16, by inserting after line 21 the 5 15 following: 5 16 "Sec. ___. Section 423.24, Code Supplement 1997, 5 17 is amended by inserting the following new unnumbered 5 18 paragraph before subsection 1: 5 19 NEW UNNUMBERED PARAGRAPH. Except as otherwise 5 20 provided in section 312.2, subsection 15, all revenues 5 21 derived from the use tax on motor vehicles, trailers, 5 22 and motor vehicle accessories and equipment as 5 23 collected pursuant to sections 423.7 and 423.7A shall 5 24 be deposited and credited to the road use tax fund and 5 25 shall be used exclusively for the construction, 5 26 maintenance, and supervision of public highways. 5 27 Sec. ___. Section 423.24, subsection 1, unnumbered 5 28 paragraph 1, Code Supplement 1997, is amended to read 5 29 as follows: 5 30Eighty percent ofNotwithstanding any provision of 5 31 this section which provides that all revenues derived 5 32 from the use tax on motor vehicles, trailers, and 5 33 motor vehicle accessories and equipment as collected 5 34 pursuant to section 423.7 and section 423.7A shall be 5 35 deposited and credited to the road use tax fund, 5 36 eighty percent of the revenues shall be deposited and 5 37 credited as follows:" 5 38 #35. Page 17, by inserting after line 4 the 5 39 following: 5 40 "Sec. ___. Section 423.24, subsection 1, paragraph 5 41 c, Code Supplement 1997, is amended by striking the 5 42 paragraph. 5 43 Sec. ___. Section 423.24, subsection 2, Code 5 44 Supplement 1997, is amended to read as follows: 5 45 2.Twenty percent ofNotwithstanding any other 5 46 provision of this section that provides that all 5 47 revenue derived from the use tax on motor vehicles, 5 48 trailers, and motor vehicle accessories and equipment 5 49 as collected pursuant to section 423.7 shall be 5 50 deposited and credited to the road use tax fund, 6 1 twenty percent of the revenues shall be credited and 6 2 deposited as follows: one-half to the road use tax 6 3 fund and one-half to the primary road fund to be used 6 4 for the commercial and industrial highway network, 6 5 except to the extent that the department directs that 6 6 moneys are deposited in the highway safety patrol fund 6 7 created in section 80.41 to fund the appropriations 6 8 made from the highway safety patrol fund in accordance 6 9 with the provisions of section 80.41. The department 6 10 shall determine the amount of moneys to be credited 6 11 under this subsection to the highway safety patrol 6 12 fund and shall deposit that amount into the highway 6 13 safety patrol fund. 6 14 Sec. ___. NEW SECTION. 423.24A REIMBURSEMENT FOR 6 15 THE PRIMARY ROAD FUND. 6 16 From moneys deposited into the road use tax fund, 6 17 the department may credit to the primary road fund any 6 18 amount of revenues derived from the use tax on motor 6 19 vehicles, trailers, and motor vehicles accessories and 6 20 equipment as collected pursuant to sections 423.7 and 6 21 423.7A to the extent necessary to reimburse that fund 6 22 for the expenditures not otherwise eligible to be made 6 23 from the primary road fund, which are made for 6 24 repairing, improving, and maintaining bridges over the 6 25 rivers bordering the state. Expenditures for those 6 26 portions of bridges within adjacent states may be 6 27 included when they are made pursuant to an agreement 6 28 entered into under section 313.63, 313A.34, or 6 29 314.10." 6 30 #36. Page 17, by striking lines 18 through 23. 6 31 #37. Page 17, by inserting before line 24 the 6 32 following: 6 33 "Sec. ___. SEVERABILITY. If any provision of this 6 34 Act or the application of this Act to any person or 6 35 circumstance is held invalid, the invalidity shall not 6 36 affect other provisions or applications of this Act 6 37 which shall be given effect without the invalid 6 38 provision or application, and to this end the 6 39 provisions of this Act are severable." 6 40 #38. By renumbering, relettering, or redesignating 6 41 and correcting internal references as necessary. 6 42 SF 2415H 6 43 da/pk/25
Text: S05752 Text: S05754 Text: S05700 - S05799 Text: S Index Bills and Amendments: General Index Bill History: General Index
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