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House Journal: Page 1740: Friday, April 17, 1998

29     21.  Page 12, line 32, by inserting after the word
30   "corporation." the following:  "If the eligible
31   recipient is an agricultural producer as provided in
32   section 15E.210, the agreement shall not be executed
33   unless the agricultural producer holds voting common
34   stock in the corporation equal to at least five
35   percent of the financing provided to the agricultural
36   producer pursuant to the agreement."
37     22.  Page 13, by striking lines 11 and 12 and
38   inserting the following:
39     "___.  To the extent feasible and fiscally prudent,
40   the corporation must maintain a portfolio which is
41   diversified among the various types of agricultural
42   commodities and agribusiness.
43     ___.  Not more than seventy-five percent of moneys
44   originating from the state, including moneys loaned to
45   the corporation pursuant to this section, may be used
46   to finance any one Iowa agricultural industry
47   venture."
48     23.  Page 13, by striking lines 26 through 33.
49     24.  Page 14, line 28, by striking the words
50   "general fund of the state" and inserting the

Page 4

 1   following:  "road use tax fund created pursuant to
 2   section 312.1".
 3     25.  Page 15, line 1, by striking the words "must
 4   participate" and inserting the following:
 5   "participating".
 6     26.  Page 15, by striking lines 11 and 12 and
 7   inserting the following:
 8     "b.  An agricultural products processor which
 9   participates as part of an Iowa".
10     27.  By striking page 15, line 30, through page
11   16, line 1, and inserting the following:  "produced in
12   this state.  However, the corporation may provide
13   financing, if its board of directors determines that
14   adequate supplies of the commodity are not available
15   for processing as otherwise required in this
16   subparagraph subdivision."
17     28.  Page 16, by inserting before line 2 the
18   following:
19     "___.  An agricultural biotechnology enterprise
20   which qualifies as an Iowa agricultural industry
21   venture as provided according to the terms of an
22   agreement executed by the agricultural biotechnology
23   enterprise and the corporation, if the board of
24   directors for the corporation determines that the
25   enterprise would advance the intent and purposes set
26   out in section 15E.203."
27     29.  Page 16, by inserting after line 21 the
28   following:

© 1998 Cornell College and League of Women Voters of Iowa

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Last update: Mon Apr 20 13:40:03 CDT 1998
URL: /DOCS/GA/77GA/Session.2/HJournal/01700/01740.html
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