House Journal: Page 1359: Monday, April 10, 2000
8 IN THE CREATION AND DEVELOPMENT OF LIFE SCIENCE
9 PRODUCTS - PROHIBITION AND EXCEPTIONS.
10 Notwithstanding any other provision of law, a life
11 science enterprise may acquire or hold an ownership or
12 leasehold interest in agricultural land, if the
13 economic development board approves a life science
14 enterprise plan as provided in section 15.104. a life
15 science enterprise must acquire or hold the
16 agricultural land pursuant to the plan which may be
17 amended as provided by the board. However, the life
18 science enterprise shall not hold a total of more than
19 three hundred twenty acres of agricultural land. The
20 life science enterprise shall hold the land only for
21 purposes of producing life science products according
22 to the life science enterprise plan. In addition, the
23 life science enterprise shall not acquire or hold
24 agricultural land, if the life science enterprise
25 receives any form of financing from an Iowa
26 agricultural industry finance corporation as provided
27 in chapter 15E. a life science enterprise that
28 complies with this section may hold the interest in
29 the agricultural land, as provided in the plan, for as
30 long as commercial sales of products produced from the
31 agricultural land are subject to the following:
32 1. The sale of life science products must equal at
33 least seventy-five percent of commercial sales of all
34 products produced from the agricultural land during
35 any year that the life science enterprise is required
36 to report under section 10B.4.
37 2. The sale of products other than life science
38 products must equal not more than twenty-five percent
39 of commercial sales of all products produced from the
40 agricultural land during any year that the life
41 science enterprise is required to report under section
42 10B.4.
43 Sec. 5. NEW SECTION. 10C.4 ENFORCEMENT -
44 PENALTIES.
45 1. The office of attorney general or a county
46 attorney shall enforce the provisions of this chapter.
47 2. a life science enterprise violating this
48 chapter shall be assessed a civil penalty of not more
49 than twenty-five thousand dollars. Each day that a
50 violation exists shall constitute a separate offense.
Page 3
1 In addition, the life science enterprise shall divest
2 itself of any land held in violation of this chapter
3 within one year after judgment. The court may
4 determine the method of divesting an interest held by
5 a life science enterprise found to be in violation of
6 this chapter. A financial gain realized by the
© 2000 Cornell College and
League of Women Voters of Iowa
Comments about this site or page?
hjourn@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Thu Apr 13 13:35:00 CDT 2000
URL: /DOCS/GA/78GA/Session.2/HJournal/01300/01359.html
jhf