House Amendment 8038


PAG LIN




     1  1    Amend the amendment, H=8016, to House File 2212, as
     1  2 follows:
     1  3 #1.  Page 1, by striking lines 4 through 8 and
     1  4 inserting the following:
     1  5    <<   .  a.  Agricultural property which is used by
     1  6 a person when actively engaged in farming, if the
     1  7 person is any of the following:
     1  8    (1)  A person who files schedule F as part of the
     1  9 person's annual form 1040 or form 1041 filing with the
     1 10 United States internal revenue service, or an employee
     1 11 of such person while the employee is actively engaged
     1 12 in farming.
     1 13    (2)  A person who holds an equity position in or
     1 14 who is employed by a business association holding
     1 15 agricultural land where the business association is
     1 16 any of the following:
     1 17    (a)  A family farm corporation, authorized farm
     1 18 corporation, family farm limited partnership, limited
     1 19 partnership, family farm limited liability company,
     1 20 authorized limited liability company, family trust, or
     1 21 authorized trust, as provided in chapter 9H.
     1 22    (b)  A limited liability partnership as defined in
     1 23 section 486A.101.
     1 24    (3)  A natural person related to the person
     1 25 actively engaged in farming as provided in
     1 26 subparagraph (1) or (2) when the person is actively
     1 27 engaged in farming.  The natural person must be
     1 28 related as spouse, parent, grandparent, lineal
     1 29 ascendant of a grandparent or a grandparent's spouse,
     1 30 other lineal descendant of a grandparent or a
     1 31 grandparent's spouse, or a person acting in a
     1 32 fiduciary capacity for persons so related.
     1 33    b.  For purposes of this subsection:
     1 34    (1)  "Actively engaged in farming" means
     1 35 participating in physical labor on a regular,
     1 36 continuous, and substantial basis, or making
     1 37 day=to=day management decisions, where such
     1 38 participation or decisionmaking is directly related to
     1 39 raising and harvesting crops for feed, food, seed, or
     1 40 fiber, or to the care and feeding of livestock.
     1 41    (2)  "Agricultural property" means land of more
     1 42 than ten contiguous acres owned, leased, or held by a
     1 43 person, any residence or other structure located on
     1 44 that land, and any equipment used on that land.>>
     1 45
     1 46
     1 47                               
     1 48 HORBACH of Tama
     1 49 HF 2212.508 82
     1 50 pf/rj/10595

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