Notwithstanding any other provision of law, a life science
enterprise may acquire or hold an ownership or leasehold
interest in agricultural land if the economic development
board approves a life science enterprise plan as provided in
section 15.104. A life science enterprise must acquire or
hold the agricultural land pursuant to the plan which may be
amended as provided by the board. However, the life science
enterprise shall not hold a total of more than three hundred
twenty acres of agricultural land. The life science
enterprise shall hold the land only for purposes of producing
life science products according to the life science enterprise
plan. In addition, the life science enterprise shall not
acquire or hold agricultural land if the life science
enterprise receivesreceive any form of financing from an Iowa
agricultural industry finance corporation as provided in
chapter 15E
for the purchase or lease of agricultural land in
this state. A life science enterprise that complies with this
section may hold the interest in the agricultural land, as
provided in the plan, for as long as commercial sales of
products produced from the agricultural land are subject to
the following: