Enlarge image | FOR OFFICE USE ONLY 2024 BIENNIAL PAUL D. PATE AGRICULTURAL Secretary of State REPORT State of Iowa (Required by Iowa Code chapter 10B.) File by March 31, 2024 Name of the Reporting Entity, its Registered Agent and Registered Office. THIS FORM CANNOT BE USED TO CHANGE YOUR REGISTERED AGENT OR ITS ADDRESS. INSTEAD, USE THE APPLICABLE CHANGE FORM ON FAST TRACK FILING. This is the Biennial Agricultural Report for 2024 required byIowa Code section 10B.4. Several"Reporting Entities" are required to file this Report. Because each “Reporting Entity” is carefully defined by law, it will be necessary for you to refer to the Instructions and Definitions included with this Report in order to determine your filing requirements. There are some exemptions from filing. Exemptions from Reporting Requirements: If the entity is a family farm corporation, family farm limited partnership, family trust, or a family farm limited liability company, please indicate by marking the appropriate box below and then proceed to signing the Report in item #8. (See the attached Instructions and Definitions to determine if you qualify for an exemption). Family Farm Corporation Family Farm Limited Partnership Family Trust Family Farm Limited Liability Company Reporting Requirements for Reporting Entities: A Reporting Entity holds an interest in agricultural land if the Reporting Entity directly or indirectly owns or leases agricultural land in Iowa. 1. The Reporting Entity holding an interest in agricultural land in Iowa is: a. A corporation other than a family farm corporation ............................................................................................ Type: _____ Business Corporation _____ Authorized Farm Corporation _____ Nonprofit Corporation _____ Networking Farmers Corporation b. A cooperative association ................................................................................................................................. c. A limited partnership other than a family farm limited partnership ....................................................................... d. A trust other than a family trust, including an authorized trust ............................................................................ e. A limited liability company other than a family farm limited liability company ...................................................... Type: _____ Authorized Limited Liability Company _____ Networking Farmers Limited Liability Company _____ Farmers Cooperative Limited Liability Company f. A foreign business ........................................................................................................................................... g. A foreign government ....................................................................................................................................... h. A nonresident alien .......................................................................................................................................... |
Enlarge image | 2. State the address of the Reporting Entity: ______________________________________________________________________________________________ 3. During calendar year 2023, did the Reporting Entity* hold an interest in less than 20 acres of agricultural land in Iowa, with less than $10,000 of gross revenue produced from all farming on the land? ____ Yes ____ No *If the Reporting Entity answers “Yes” to this question, it is EXCUSED from completing the remainder of this Report, except when the Reporting Entity is a foreign business, foreign government, or nonresident alien. If excused, you must still complete Item #’s 1 - 3 above and Item # 8 below. 4. For each person who holds an interest in the Reporting Entity: Name Address Citizenship % Interest held in the (if other than U.S.) Reporting Entity* * The % interest held is not required to be reported if the person is a natural person who holds less than 10% interest. 5. If the Reporting Entity holds an interest in any OTHER Reporting Entity: The NAME of theOTHER Reporting Entity The % Interest held in theOTHER The number of acres of Agricultural Land Reporting Entity held by the OTHER Reporting Entity that are “ATTRIBUTABLE” to the Reporting Entity filing this Report |
Enlarge image | 6. a. The total number of acres held by the Reporting Entity in Iowa is __________________ acres. b. The acres are held, located, used and supervised as follows: County in # of acres # of acres # of acres TOTAL # of # of acres Name(s) and address(es) of person(s) Iowa owned leased held other acres held in used for the supervising the daily operations on the than by the County production of agricultural land ownership or (add row crops lease columns 2, 3, and 4) 7. If the reporting entity is a life science enterprise, as provided in chapter 10C, Code 2005, the total amount of commercial sale of life science products and products other than life science products which are produced from the agricultural land held by the life science enterprise: Life Science Products Other than Life Science Products 8. I certify under penalty of perjury that the information provided in this Report is true and correct, and that the Reporting Entity meets all the requirements to lawfully hold agricultural land in the state of Iowa. I agree to provide additional information upon request. _________________________________________________________ __________________________________ Signature of Authorized Representative Date _________________________________________________________ __________________________________ Print Name Print Title _________________________________________________________ ( ) ___________________ Address Telephone Number Deliver report to: SECRETARY OF STATE Business Services Division First Floor, Lucas Building 321 E. 12 thStreet Des Moines, IA 50319-9029 Phone: 515-281-5204 Fax: 515-242-5953 Website: sos.iowa.gov |
Enlarge image | Iowa Secretary of State Paul D. Pate Biennial Agricultural Report 2024Filing Instructions and Definitions Due by March 31, 202 4 Read the instructions and the Iowa Code definitions carefully before completing the Biennial Agricultural Report. Instructions are in the left column on the following pages. Iowa Code definitions are in the right column on the following pages. • This Biennial Agricultural Report must be filed by March 31, 2024, by a Reporting Entity, unless that Re porting Entity is exempt. • All Reporting Entities are identified in Item #1. • The Report contains all the information required by the Iowa General Assembly under Iowa Code section 10B.4. • The Report must contain accurate information for calendar year 2023 as of December 31, 2023. • Attach additional pages to the Report when necessary. • Any change of registered agent and/or registered office must be reported immediately. If you need to change the preprinted information identifying the registered agent and/or the registered office, complete the applicable of Change form within Fast Track Filingat https://filings.sos.iowa.gov/. Deliver Report To: Secretary of State th 321 E. 12 Street Des Moines, IA 50319 sos.iowa.gov Phone: (515) 281-5204 Fax: (515) 242-5953 |
Enlarge image | IOWA CODE DEFINITIONS EXEMPTIONS EXEMPTIONS 9H.1(9) "Family farm corporation" means a corporation: from Reporting Requirements a. Founded for the purpose of farming and the ownership of agricultural land in which the majority of the voting stock is held by and the majority of the stockholders are persons related to each other as spouse, parent, grandparent, lineal ascendants of grandparents or their spouses and other lineal descendants of the grandparents or their spouses, or persons acting in a fiduciary capacity for persons so related; b. All of its stockholders are natural persons or persons acting in a fiduciary capacity for the benefit of natural persons or family trusts as defined in subsection 13 of this section; and If the entity is a family farm corporation, family farm limited partnership, c. Sixty percent of the gross revenues of the corporation over the family trust, or a family farm limited liability company, please indicate by last consecutive three-year period comes from farming. marking the appropriate box and then proceed to signing the Report in item #8. 9H.1(11) "Family farm limited partnership" means a limited partnership which meets all of the following conditions: a. The limited partnership is formed for the purpose of farming and the ownership of agricultural land in which the general partner and a majority of the partnership interest is held by and the majority of limited partners are persons related to each other as spouse, parent, grandparent, lineal ascendants of grandparents or their spouses and other lineal descendants of the grandparents or their spouses, or persons acting in a fiduciary capacity for persons so related. b. The general partner manages and supervises the day-to-day farming operations on the agricultural land. c. All of the limited partners are natural persons or persons acting in a fiduciary capacity for the benefit of natural persons or family trusts. d. Sixty percent of the gross revenues of the partnership over the last consecutive three-year period comes from farming. 9H.1(13) "Family trust" means a trust: a. In which a majority interest in the trust is held by and the majority of the beneficiaries are persons related to each other as spouse, parent, grandparent, lineal ascendants of grandparents DEFINITIONS from the Iowa Code or their spouses and other lineal descendants of the grandparents relating to the reporting entities are or their spouses, or persons acting in a fiduciary capacity for found in the column to the right. persons so related; and b. In which all the beneficiaries are natural persons, who are not acting as a trustee or in a similar capacity for a trust, as defined in subsection 24 of this section, or persons acting in a fiduciary capacity, or nonprofit corporations; and c. If the trust is established on or after July 1, 1988, the trust must be established for the purpose of farming and sixty percent of the gross revenues of the trust over the last consecutive three-year period must come from farming. 9H.1(10) "Family farm limited liability company" means a limited liability company which meets all of the following conditions: a. The limited liability company is founded for the purpose of farming and the ownership of agricultural land in which the majority of the members are persons related to each other as spouse, parent, grandparent, lineal ascendants of grandparents or their spouses and other lineal descendants of the grandparents or their spouses, or persons acting in a fiduciary capacity for persons so related. b. All of the members of the limited liability company are natural persons or persons acting in a fiduciary capacity for the benefit of natural persons or family trusts. c. Sixty percent of the gross revenues of the limited liability company over the last consecutive three-year period comes from farming. 2 |
Enlarge image | IOWA CODE DEFINITIONS REPORTING REQUIREMENTS REPORTING REQUIREMENTS 10B.1(3) "Corporation" means a domestic or foreign corporation, for Reporting Entities including an entity organized pursuant to chapter 490, or a nonprofit corporation. 10B.1(9) "Nonprofit corporation" means any of the following: a. A corporation organized under the provisions of chapter 504, The item numbers below correspond to the item numbers on the Report Code 1989, or current chapter 504. A REPORTING ENTITY HOLDS AN INTEREST IN AGRICULTURAL LAND IF b. A corporation which qualifies under 26 U.S.C. §501 IT DIRECTLY OR INDIRECTLY OWNS OR LEASES AGRICULTURAL LAND IN THIS STATE. [Iowa Code § 10B.2] 9H.1(9) "Family farm corporation" means a corporation: a. Founded for the purpose of farming and the ownership of agricultural land in which the majority of the voting stock is held by and the majority of the stockholders are persons related to each other as spouse, parent, grandparent, lineal ascendants of 1. The Reporting Entity holding an interest in agricultural land in grandparents or their spouses and other lineal descendants of the Iowa is: grandparents or their spouses, or persons acting in a fiduciary capacity for persons so related; Check one box in item numbers 1a through 1h that describes b. All of its stockholders are natural persons or persons acting in the Reporting Entity. If the Reporting Entity checks the box in a fiduciary capacity for the benefit of natural persons or family either item numbers 1a or 1e, they must also indicate the trusts as defined in subsection 13 of this section; and c. Sixty percent of the gross revenues of the corporation over the “Type” of business entity. last consecutive three-year period comes from farming. Iowa law carefully defines each of the Reporting Entities listed 9H.1(3) "Authorized farm corporation" means a corporation other in item numbers 1a through 1h. For your convenience, the than a family farm corporation founded for the purpose of farming definitions are included in the column to the right. and the ownership of agricultural land in which: a. The stockholders do not exceed twenty-five in number; and b. The stockholders are all natural persons or persons acting in a 1a. A corporation, other than a family farm corporation means fiduciary capacity for the benefit of natural persons or nonprofit a domestic or foreign corporation [Iowa Code § 10B.1(3)] corporations. including an entity organized pursuant to chapter 490, or a 10.1(15) "Networking farmers corporation" means a corporation, nonprofit corporation [Iowa Code § 10B.1(9)], other than a other than a family farm corporation as defined in section 9H.1, family farm corporation [as defined in section 9H.1(9)]. organized under chapter 490 if all of the following conditions are A family farm corporation qualifies as an exemption. Mark satisfied: a. All of the following apply: the appropriate box at the top of the report, sign and (1) Qualified farmers must hold at least fifty-one percent of all return the report to the Secretary of State. issued shares of the corporation. If more than one class of shares is authorized, qualified farmers must hold at least fifty-one percent An authorized farm corporation [as defined in Iowa Code of all issued shares in each class. § 9H.1(3)]. (2) Qualified persons must hold at least seventy percent of all issued shares of the corporation. If more than one class of shares A networking farmers corporation [as defined in Iowa is authorized, qualified persons must hold at least seventy percent Code § 10.1(15)]. of all issued shares in each class. b. As used in paragraph "a","issued shares" includes but is not limited to common stock or preferred stock, or each class of 1b. A cooperative association [as defined in Iowa Code common stock or preferred stock, regardless of voting rights or a right to receive dividends or earning distributions. A security such § 10B.1(2)] as a warrant or option that may be converted to stock shall be considered as issued shares. 10B.1(2) "Cooperative association" means any entity organized on a cooperative basis, including an association of persons organized under chapter 497, 498, or 499; an entity composed of entities organized under those chapters; or a cooperative organized under chapter 501 or 501A. INSTRUCTIONS for Reporting Entities continue on the next page. 3 |
Enlarge image | IOWA CODE DEFINITIONS 1c. A limited partnership, [as defined in Iowa Code § 10B.1(8) "Limited partnership" means a foreign or domestic 10B.1(8)] other than a family farm partnership [as defined limited partnership, including a limited partnership as defined in in Iowa Code § 9H.1(11)]. A family farm limited section 488.102, and a domestic or foreign limited liability limited partnership qualifies as an exemption. Mark the partnership under chapter 488. appropriate box at the top of the report, sign and return 9H.1(11) "Family farm limited partnership" means a limited the report to the Secretary of State. partnership which meets all of the following conditions: a. The limited partnership is formed for the purpose of farming 1d. A trust [as defined in Iowa Code § 9H.1(24)], other and the ownership of agricultural land in which the general partner than a family trust [as defined in Iowa Code § 9H.1(13)], and a majority of the partnership interest is held by and the majority of limited partners are persons related to each other as including an authorized trust [as defined in Iowa Code § spouse, parent, grandparent, lineal ascendants of grandparents 9H.1(5)]. A family trust qualifies as an exemption. Mark or their spouses and other lineal descendants of the grandparents the appropriate box at the top of the report, sign and or their spouses, or persons acting in a fiduciary capacity for return the report to the Secretary of State. persons so related. b. The general partner manages and supervises the day-to-day farming operations on the agricultural land. c. All of the limited partners are natural persons or persons acting in a fiduciary capacity for the benefit of natural persons or family trusts. d. Sixty percent of the gross revenues of the partnership over the last consecutive three-year period come from farming. 9H.1(24) "Trust" means a fiduciary relationship with respect to property, subjecting the person by whom the property is held to equitable duties to deal with the property for the benefit of another person, which arises as a result of a manifestation of an intention to create it. Trust does not include a person acting in a fiduciary capacity, as defined in subsection 15, or a revocable trust. A trust includes a legal entity holding property as trustee, agent, escrow agent, attorney in fact, and in any similar capacity. 9H.1(13) "Family trust" means a trust: a. In which a majority interest in the trust is held by and the majority of the beneficiaries are persons related to each other as spouse, parent, grandparent, lineal ascendants of grandparents or their spouses and other lineal descendants of the grandparents or their spouses, or persons acting in a fiduciary capacity for persons so related; and b. In which all the beneficiaries are natural persons, who are not acting as a trustee or in a similar capacity for a trust, as defined in subsection 24 of this section, or persons acting in a fiduciary capacity, or nonprofit corporations; and c. If the trust is established on or after July 1, 1988, the trust must be established for the purpose of farming and sixty percent of the gross revenues of the trust over the last consecutive three-year period must come from farming. 9H.1(5) "Authorized trust" means a trust other than a family trust in which: a. The beneficiaries do not exceed twenty-five in number; and b. The beneficiaries are all natural persons, who are not acting as a trustee or in a similar capacity for a trust as defined in subsection 24 of this section, or persons acting in a fiduciary capacity, or nonprofit corporations; and c. Its income is not exempt from taxation under the laws of either the United States or the state of Iowa. INSTRUCTIONS for Reporting Entities continue on the next page. 4 |
Enlarge image | 1e. A limited liability company [as defined in Iowa Code § IOWA CODE DEFINITIONS 10B.1(7)], other than a family farm limited liability 10B.1(7) "Limited liability company" means a foreign or domestic company [as defined in Iowa Code § 9H.1(10)]. A family limited liability company, including a limited liability company as defined in section 489.102. farm limited liability company qualifies as an exemption. Mark the appropriate box at the top of the report, sign and 9H.1(10) "Family farm limited liability company” means a limited return the report to the Secretary of State. liability company which meets all of the following conditions: a. The limited liability company is founded for the purpose of farming and the ownership of agricultural land in which the An authorized limited liability company majority of the members are persons related to each other as spouse, parent, grandparent, lineal ascendants of grandparents [as defined in Iowa Code § 9H.1(4)]. or their spouses and other lineal descendants of the grandparents or their spouses, or persons acting in a fiduciary capacity for persons so related. A networking farmers limited liability company b. All of the members of the limited liability company are natural [as defined in Iowa Code § 10.1(17)]. persons or persons acting in a fiduciary capacity for the benefit of natural persons or family trusts. c. Sixty percent of the gross revenues of the limited liability A farmers cooperative limited liability company company over the last consecutive three-year period comes from [as defined in Iowa Code § 10.1(9)]. farming. 9H.1(4) "Authorized limited liability company" means a limited 1f. A foreign business [as defined in Iowa Code § 9I.1(3)]. liability company other than a family farm limited liability company founded for the purpose of farming and the ownership of agricultural land in which all of the following apply: 1g. A foreign government [as defined in Iowa Code § 9I.1(4)]. a. The members do not exceed twenty-five in number. b. The members are all natural persons or persons acting in a fiduciary capacity for the benefit of natural persons or nonprofit 1h. A nonresident alien [as defined in Iowa Code § 9I.1(5)]. corporations. 10.1(17) "Networking farmers limited liability company" means a 2. State the address of the Reporting Entity. limited liability company, other than a family farm limited liability company as defined in section 9H.1, organized under chapter 489 3. A Reporting Entity other than a foreign business, foreign if all of the following conditions are satisfied: a. Qualified farmers must hold at least fifty-one percent of all government, or nonresident alien need not complete the membership interests in the limited liability company. If more than remainder of this Report if the Reporting Entity holds an one type of membership interest is established, including any series as provided in section 489.1201 or any class or group as interest in less than 20 acres of agricultural land in Iowa provided in section 489.1201, qualified farmers must hold at least and the gross revenue produced from all farming on the land fifty-one percent of all membership interests of each type. equals less than $10,000. Answer “Yes” or “No”. b. Qualified persons must hold at least seventy percent of all membership interests in the limited liability company. If more than one type of membership interest is established, including any *If the Reporting Entity answers “Yes” to this question, it is EXCUSED series as provided in section 489.1201 or any class or group as from completing the remainder of this Report, except when the provided in section 489.1201, qualified persons must hold at least seventy percent of all membership interests of each type. Reporting Entity is a foreign business, foreign government, or nonresident alien. 10.1(9) "Farmers cooperative limited liability company" means a limited liability company organized under chapter 489, if cooperative associations hold one hundred percent of all If excused, you must still complete Item #’s 1 - 3 and Item #8. membership interests in the limited liability company. Farmers cooperative associations must hold at least seventy percent of all 4. For each person who holds an interest in the Reporting Entity, membership interests in the limited liability company. If more than one type of membership interest is established, including any print their Name, Address,Citizenship (if other than U.S.), series as provided in section 489.1201 or any class or group as and the Percentage Interest Held.* provided in section 489.1201, farmers cooperative associations must hold at least seventy percent of all membership interests of each type. *The Percentage Interest Held is not required to be reported if the person is a natural person who holds less than a 10% interest in the Reporting Entity. 9I.1(3) "Foreign business" means a corporation incorporated under the laws of a foreign country, or a business entity whether or not incorporated, in which a majority interest is owned directly or indirectly by nonresident aliens. Legal entities, including but not limited to trusts, holding companies, multiple corporations and other business arrangements, do not affect the determination of ownership or control of a foreign business. 9I.1(4) "Foreign government" means a government other than the government of the United States, its states, territories or possessions. INSTRUCTIONS for Reporting Entities continue on the next page. 5 |
Enlarge image | 5. If the Reporting Entity holds an interest* in any other IOWA CODE DEFINITIONS Reporting Entity(ies), print the Name(s) of all other Reporting 9I.1(5) "Nonresident alien" means an individual who is not any of Entities, the Percentage Interest Held, and the Number of the following: Acres held by the OTHER Reporting Entity(ies) that are a. A citizen of the United States. ATTRIBUTABLE** to the Reporting Entity. b. A person lawfully admitted into the United States for permanent residence by the United States immigration and *A Reporting Entity holds an interest in another Reporting Entity according to the naturalization service. An individual is lawfully admitted for permanent residence regardless of whether the individual's lawful provisions of Iowa Code chapter 10. Iowa Code § 10.2(2). permanent resident status is conditional. **To calculate the number of Acres held by the OTHER Reporting Entity(ies) that are ATTRIBUTABLE to the Reporting Entity, multiply the total number 10.2(2) A person holds an interest in a farmers entity if the person of acres held by the OTHER Reporting Entity(ies) times the percentage holds an interest as any of the following: interest held. a. A shareholder of a networking farmers corporation. b. A member of a networking farmers limited liability company. 6a. Print the total number of acres of agricultural land held by the c. A member of a farmers cooperative association. Reporting Entity in Iowa. This total INCLUDES those acres d. A member of a farmers cooperative limited liability company. ATTRIBUTABLE to the Reporting Entity calculated in #5. 10C.1(9) “Life science enterprise” or “enterprise” means a corporation or limited liability company organized for the purpose 6b. Print, by county (column 1), the number of acres of or using biotechnological systems or techniques for the agricultural land owned (column 2), leased (column 3), and production of life science products. held by other than ownership or lease (column 4). Then, by county, total these numbers and print the number of acres held by all three means (column 5). Print the number of those acres used for the production of row crops (column 6) and the name(s) and address(es) of the person(s) supervising* the daily operations on the agricultural land (column 7). *If the agricultural land is divided and/or supervised by different individuals, list the names and addresses of all supervisors and a description of the land supervised. Attach additional pages if necessary. 7. If the reporting entity is a life science enterprise, as provided in chapter 10C, Code 2005, the total amount of commercial sale of life science products and products other than life science products which are produced from the agricultural land held by the life science enterprise. 8. Iowa Code § 10B.4(2)”e” requires a CERTIFICATION that the Reporting Entity meets all of the requirements to lawfully hold agricultural land in Iowa. The Secretary of State or the Attorney General may require additional information. Line 8 must be signed as follows. It must state the date signed, the person’s name, and the capacity in which the person signed. It must also state the person’s address and telephone number. Corporations and Cooperative Associations: By a person serving as the president or other officer or authorized representative. Limited Partnership: By a person acting as the general partner. Trust: By a person acting in a fiduciary capacity or as a trustee. Limited Liability Companies: By a person who is a member, manager, or authorized representative. Foreign Business: By a person serving as the president or other officer or authorized representative. Foreign Governments: By a person authorized to make the report by a foreign government. Nonresident Aliens: By a nonresident alien or agent, trustee, or fiduciary of the nonresident alien. 6 |