Iowa Code 16.2B – Agricultural development division — administration of programs
Current as of: 2023 | Check for updates
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1. An agricultural development division is created within the authority. The agricultural development division shall administer subchapter VIII, by providing assistance to beginning farmers, agricultural producers, or other persons qualifying for such assistance under subchapter VIII.
Terms Used In Iowa Code 16.2B
- Authority: means the Iowa finance authority created in section 16. See Iowa Code 16.1
- Board: means the Iowa finance authority board of directors created pursuant to section 16. See Iowa Code 16.1
- Division: means the Iowa title guaranty division in the authority, the director of the division, or a designee of the director. See Iowa Code 16.92
- Executive director: means the executive director of the Iowa finance authority as appointed pursuant to section 16. See Iowa Code 16.1
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- property: includes personal and real property. See Iowa Code 4.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
2. The agricultural development division shall be administered in accordance with the policies of the agricultural development board created in section 16.2C. The executive director of the authority may organize the agricultural development division and employ necessary qualified personnel to administer subchapter VIII.
3. The agricultural development division shall, to every extent practical, assist persons to do all of the following:
a. Acquire agricultural land, agricultural improvements, or depreciable agricultural property, including as provided in subchapter VIII.
b. Claim beginning farmer tax credits, including tax credit certificates issued pursuant to subchapter VIII, part 5, subpart B.
c. Obtain financing for other capital requirements or operating expenses.
4. The net earnings of the agricultural development division, beyond that necessary for retirement of its notes, bonds, or other obligations or to implement the public purposes and programs authorized in subchapter VIII, shall not inure to the benefit of any person other than the state.