House File 2678 H-8318 Amend the amendment, H-8123, to House File 2678, as follows: 1 1. Page 1, line 4, by striking < FOREIGN > 2 2. Page 1, after line 20 by inserting: 3 < Sec. ___. Section 10B.1, Code 2026, is amended by adding 4 the following new subsections: 5 NEW SUBSECTION . 1A. a. “Business entity” means a person, 6 formed under the statutes of this state or another jurisdiction 7 for purposes of engaging in a commercial activity on a profit, 8 cooperative, or not-for-profit basis, including but not 9 limited to a corporation or entity taxed as a corporation 10 under the Internal Revenue Code, nonprofit corporation, 11 cooperative or cooperative association, partnership, limited 12 partnership, limited liability company, limited liability 13 partnership, investment company, joint stock company, joint 14 stock association, or trust, including but not limited to a 15 business trust. 16 b. “Business entity” does not include a family farm 17 corporation, family farm limited liability company, family 18 trust, revocable trust, testamentary trust, or family farm 19 unincorporated nonprofit association, each as defined in 20 section 9H.1. 21 NEW SUBSECTION . 10A. “Out-of-state business entity” means 22 a business entity formed under the statutes of any of the 23 following: 24 a. A state of the United States, other than Iowa. 25 b. A territory of the United States. 26 NEW SUBSECTION . 10B. “Out-of-state individual” means an 27 individual who is domiciled in any of the following: 28 a. A state of the United States, other than Iowa. 29 b. A territory of the United States. 30 Sec. ___. Section 10B.1, subsection 11, Code 2026, is 31 amended by adding the following new paragraphs: 32 NEW PARAGRAPH . 0f. An out-of-state business entity holding 33 an interest in agricultural land in this state, including a 34 general partnership in which a partner is domiciled in another 35 -1- H 8123.3861 (2) 91 da/jh 1/ 3 #1. #2.

state, or territory, of the United States. 1 NEW PARAGRAPH . 00f. An out-of-state individual holding an 2 interest in agricultural land in this state. 3 Sec. ___. Section 10B.3, Code 2026, is amended by adding the 4 following new subsection: 5 NEW SUBSECTION . 5A. A person not described in this section 6 who is an authorized representative of an out-of-state business 7 entity or an out-of-state individual. 8 Sec. ___. Section 10B.4, subsection 2, Code 2026, is amended 9 by adding the following new paragraph: 10 NEW PARAGRAPH . 0b. If the reporting entity is a general 11 partnership, the name of and address of each partner who 12 resides in another state, or territory, of the United States. > 13 3. By striking page 1, line 23, through page 2, line 21, and 14 inserting: 15 < 2. a. Information Except as provided in reports paragraph 16 “b” and section 10B.5A, a report required in to be filed under 17 this chapter is a confidential record as provided in section 18 22.7 . The attorney general may have access to the reports, and 19 may use information in the reports in any action to enforce 20 state law, including but not limited to chapters 9H and 9I . 21 The reports shall be made available to members of the general 22 assembly and appropriate committees of the general assembly 23 in order to determine the extent that agricultural land is 24 held in this state by corporations and other business and 25 foreign entities and the effect of such land ownership upon the 26 economy of this state. The secretary of state shall assist any 27 committee of the general assembly studying these issues. 28 b. A report filed under this chapter is not a confidential 29 record if the reporting entity is any of the following: 30 (1) A foreign business, foreign government, or nonresident 31 alien. 32 (2) An out-of-state business entity or an out-of-state 33 individual. 34 Sec. ___. Section 10B.5A, Code 2026, is amended to read as 35 -2- H 8123.3861 (2) 91 da/jh 2/ 3 #3.

follows: 1 10B.5A Annual summary to governor and general assembly. 2 1. The secretary of state shall prepare an annual summary of 3 foreign and out-of-state agricultural landholding. 4 2. a. The summary must be include a report summarizing 5 the compiled information for agricultural landholdings by 6 foreign businesses, foreign governments, and nonresident aliens 7 included in the current registrations filed pursuant to section 8 9I.7 and the last reports filed pursuant to section 10B.4 . 9 b. The summary must include a report summarizing the 10 compiled information for agricultural landholding by 11 out-of-state business entities and out-of-state individuals 12 included in the last reports filed pursuant to section 10B.4. 13 3. The information described in subsection 2, is not a 14 confidential record as provided in section 22.7 . The attorney 15 general may have access to the annual summary and may use 16 information in the annual summary in any action to enforce 17 state law, including but not limited to chapters 9H and 9I , and 18 this chapter . The annual summary shall be made available to 19 the governor, members of the general assembly, and appropriate 20 committees of the general assembly in order to determine the 21 extent that agricultural land is held in this state by foreign 22 entities and the effect of such land ownership upon the economy 23 of this state. Upon request, the secretary of state shall 24 assist any committee of the general assembly studying these 25 issues. >> 26 4. By renumbering as necessary. 27 ______________________________ LAWLER of Johnson -3- H 8123.3861 (2) 91 da/jh 3/ 3 #4.