House Amendment 1280


PAG LIN




     1  1    Amend House File 358 as follows:
     1  2 #1.  Page 1, by inserting after line 22 the
     1  3 following:
     1  4    <Sec.    .  Section 15E.202, subsection 7, Code
     1  5 2003, is amended to read as follows:
     1  6    7.  "Biotechnology enterprise" means an enterprise
     1  7 organized under the laws of this state using
     1  8 biological systems or techniques for the development
     1  9 of specialized plant or animal characteristics for
     1 10 beneficial nutritional, commercial, or industrial
     1 11 purposes, including but not limited for the purposes
     1 12 of a life science enterprise as provided in section
     1 13 10C.2.
     1 14    Sec.    .  15E.202, Code 2003, is amended by adding
     1 15 the following new subsections:
     1 16    NEW SUBSECTION.  7A.  "Biotechnological system or
     1 17 technique" means any scientific process, including but
     1 18 not limited to a transgenic process, that involves
     1 19 changing an organism's original genetic code or
     1 20 modifying enzymes in living cells to cause a specific
     1 21 biochemical reaction, other than by breeding or
     1 22 pollination.  For purposes of this subsection, a life
     1 23 science product as provided in chapter 10C is produced
     1 24 using a biotechnological system or technique.
     1 25    NEW SUBSECTION.  16A.  "Processing" means turning
     1 26 an agricultural commodity into an agricultural
     1 27 processed product by physical or chemical
     1 28 modification, including but not limited to canning,
     1 29 freezing, drying, dehydrating, cooking, pressing,
     1 30 powdering, packaging, repacking, baking, heating,
     1 31 mixing, grinding, churning, separating, extracting,
     1 32 cutting, fermenting, eviscerating, preserving,
     1 33 jarring, brewing, or slaughtering.
     1 34    Sec.    .  Section 15E.209, subsection 3, Code
     1 35 2003, is amended to read as follows:
     1 36    3.  A An Iowa agricultural industry finance
     1 37 corporation shall not provide financing to support an
     1 38 outstanding debt or other obligation, regardless of
     1 39 whether the original financing was provided by a
     1 40 corporation.
     1 41    4.  a.  An Iowa agricultural industry finance
     1 42 corporation that receives an Iowa agricultural
     1 43 industry finance loan shall invest at least fifty
     1 44 percent of all of its moneys to finance an Iowa
     1 45 agricultural industry venture involving processing.
     1 46    b.  An Iowa agricultural industry finance
     1 47 corporation that receives an Iowa agricultural
     1 48 industry finance loan shall not invest more than fifty
     1 49 percent of all of its moneys in a business which
     1 50 produces or studies the production of an article
     2  1 derived from a biotechnological system or technique.
     2  2    An Iowa agricultural industry finance corporation's
     2  3 moneys include moneys that originate from an Iowa
     2  4 agricultural industry finance loan or any another
     2  5 source.  The investment referred to in paragraph "a"
     2  6 may be in the form of financing as provided in this
     2  7 section or may be the acquisition of an equity
     2  8 interest in a business.>
     2  9
     2 10
     2 11                               
     2 12 KUHN of Floyd
     2 13
     2 14
     2 15                               
     2 16 FREVERT of Palo Alto
     2 17
     2 18
     2 19                               
     2 20 SWAIM of Davis
     2 21
     2 22
     2 23                               
     2 24 WHITAKER of Van Buren
     2 25
     2 26
     2 27                               
     2 28 STEVENS of Dickinson
     2 29
     2 30
     2 31                               
     2 32 DAVITT of Warren
     2 33
     2 34
     2 35                               
     2 36 QUIRK of Chickasaw
     2 37
     2 38
     2 39                               
     2 40 MERTZ of Kossuth
     2 41
     2 42
     2 43                               
     2 44 STRUYK of Pottawattamie
     2 45 HF 358.501 80
     2 46 da/pj

                              -1-